Winnipeg Free Press
June 25, 2010
MANITOBA has been ranked as the best place for oil and gas investment in Canada for the second year in a row and made the Top 10 list worldwide, says the Global Petroleum Survey, issued Thursday by Canadian think-tank the Fraser Institute.
The annual survey saw Manitoba move up the global ladder to eighth from last year's rank of 21st.
Manitoba draws investment due to low royalties and a clear, simple regulatory framework, said Gerry Angevine, a senior economist at the Fraser Institute and co-author of the survey, in a release.
Clarity and stability in rules and regulations, particularly relating to royalties, land-claim disputes and environmental regulations, were rated as very important by petroleum executives surveyed, Angevine said.
Saskatchewan was rated the second-best jurisdiction in Canada, and 17th globally.
Trailing behind are Ontario in third, followed by the Yukon, Newfoundland and Labrador, British Columbia, Nova Scotia, Alberta, the Northwest Territories, and Quebec.
All Canadian jurisdictions moved up in the global ranking this year except Quebec.
Angevine attributed Alberta's poor showing in 2008 and 2009 to the provincial government's waffling over royalties, which he described as "an unpleasant and costly roller-coaster ride."
He suggested this year's results show a preliminary level of satisfaction with the new royalty concessions made earlier this spring.
The top-ranked jurisdictions for investment worldwide for 2010 are South Dakota, Texas, Illinois, Wyoming, Austria, Mississippi, Utah, Manitoba, Oklahoma, and Alabama.
June 25, 2010
MANITOBA has been ranked as the best place for oil and gas investment in Canada for the second year in a row and made the Top 10 list worldwide, says the Global Petroleum Survey, issued Thursday by Canadian think-tank the Fraser Institute.
The annual survey saw Manitoba move up the global ladder to eighth from last year's rank of 21st.
Manitoba draws investment due to low royalties and a clear, simple regulatory framework, said Gerry Angevine, a senior economist at the Fraser Institute and co-author of the survey, in a release.
Clarity and stability in rules and regulations, particularly relating to royalties, land-claim disputes and environmental regulations, were rated as very important by petroleum executives surveyed, Angevine said.
Saskatchewan was rated the second-best jurisdiction in Canada, and 17th globally.
Trailing behind are Ontario in third, followed by the Yukon, Newfoundland and Labrador, British Columbia, Nova Scotia, Alberta, the Northwest Territories, and Quebec.
All Canadian jurisdictions moved up in the global ranking this year except Quebec.
Angevine attributed Alberta's poor showing in 2008 and 2009 to the provincial government's waffling over royalties, which he described as "an unpleasant and costly roller-coaster ride."
He suggested this year's results show a preliminary level of satisfaction with the new royalty concessions made earlier this spring.
The top-ranked jurisdictions for investment worldwide for 2010 are South Dakota, Texas, Illinois, Wyoming, Austria, Mississippi, Utah, Manitoba, Oklahoma, and Alabama.
