Study
| EST. READ TIME 2 MIN.Wyoming and North Dakota lead 17 petroleum producing states and provinces for investment attractiveness; Saskatchewan highest ranked Canadian province at 3rd while Alberta ranks 9th
Canada-US Energy Sector Competitiveness Survey 2023
- This report presents the results of the Fraser Institute’s 2023 Canada-US Energy Sector Competitiveness Survey regarding barriers to investment in oil and gas exploration and production facilities in each country. The survey responses have been tallied to rank Canadian and American jurisdictions according to the extent of such barriers.
- A total of 165 respondents participated in the survey this year, providing sufficient data to evaluate four Canadian provinces and 13 American states.
- For a second year in a row, Wyoming is the most attractive jurisdiction for oil and gas investment followed by North Dakota (2nd), Saskatchewan (3rd), Oklahoma (4th) and Kansas (5th).
- Saskatchewan’s third-place ranking makes it the highest-ranked Canadian province this year. It is followed by Alberta (9th), Newfoundland (14th), and British Columbia (15th).
- Investors indicated that uncertainty concerning environmental regulations, regulatory duplication and inconsistencies, and disputed land claims were more concerning in Canadian provinces than in US states.
- On average, 68 percent of respondents were deterred by the uncertainty concerning environmental regulations in Canada compared to 41 percent in the United States. Similarly, 54 percent of respondents for Canada, on average, are deterred by regulatory duplication and inconsistencies compared to 34 percent for the United States. On average, 45 percent of respondents indicated that uncertainty concerning disputed land claims is a deterrent to investment in Canada’s provinces compared to 25 percent for the United States.
- Overall, the US performs better than Canada in 13 out of the 16 policy factors.
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Julio Mejía
Policy AnalystJulio Mejía is a Policy Analyst at the Fraser Institute. He holds a Bachelor of Government and International Relations anda Master’s degree in International Affairs from the Externado University of Colombia, and a Master’s degree in Criminology and Criminal Justice Policy from the University of Guelph. Prior to joining the Fraser Institute, Mr Mejia worked as the liaison between the Colombian and the United States armies and as coordinator for international cooperation for different universities in Latin America. His comments have appeared in the Financial Post, Halifax Chronicle Herald, Toronto Sun, and Colombia’s leading news publications, including El Tiempo and La Republica. He has been a regular guest at NTN24, WRadio, and other Spanish-language news outlets. Mr Mejia specializes in energy policy, with a focus on the mining and petroleum industries.… Read more -
Elmira Aliakbari
Director, Natural Resource Studies, Fraser Institute
Elmira Aliakbari is Director of the Centre for Natural Resource Studies at the Fraser Institute. She received a Ph.D. in Economicsfrom the University of Guelph, and M.A. and B.S. degrees in Economics, both from the University of Tehran in Iran. She has studied public policy involving energy and the environment for nearly eight years. Prior to joining the Fraser Institute, Ms. Aliakbari was Director of Research, Energy, Ecology and Prosperity with the Frontier Center for Public Policy. She has presented her work at many academic conferences and has been published in the prestigious academic journal Energy Economics. Ms. Aliakbari’s research has been discussed in prominent media outlets including the Wall Street Journal, and her commentaries have appeared in major Canadian and American newspapers such as the Globe and Mail, Washington Times, National Post, and Financial Post.… Read more