The Fraser Institute: Texas Most Attractive Jurisdiction in the World for Global Oil and Gas Investment
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 11/20/14 -- On the strength of its petroleum reserves, Texas remains the most attractive jurisdiction for oil and gas investment in the world, finds the Fraser Institute's annual .
Based on responses from petroleum executives and managers, this year's ranks 156 jurisdictions worldwide on their relative attractiveness for investment. Barriers to investment include high taxes, costly regulatory obligations and uncertainty over environmental regulations.
"Texas' wealth of petroleum reserves continue to attract investment, which fuels the Texas economy and creates jobs and widespread prosperity," said Kenneth Green, senior director of the Fraser Institute's Centre for Natural Resources.
The survey considers both the input from respondents and the oil and gas reserves (or lack thereof) of each jurisdiction to determine a ranking. Of the 27 jurisdictions with large petroleum reserves, Texas tops the list followed by Alberta, Norway-North Sea, the United Arab Emirates and Qatar. Conversely, Venezuela, Iran, four Russian regions, Iraq and Egypt are least attractive to investment.
Of the 44 jurisdictions with medium-sized reserves, Oklahoma is number one followed by Arkansas, North Dakota, Wyoming and Utah.
Of the remaining 69 jurisdictions, which have relatively small proven oil and gas reserves, Mississippi tops the list followed by Saskatchewan, Manitoba, Alabama and Kansas.
"Unlike many places around the world, North American jurisdictions typically provide safe environments for people and their assets, and have a transparent legal system that's attractive to oil and gas investment," Green said.
Additionally, the survey features an alternate ranking format, which ignores proven oil and gas reserves and focuses solely on survey responses. In this format, Oklahoma ranks first followed by Mississippi, Saskatchewan, Arkansas and Manitoba.
Meanwhile, Venezuela, Bolivia, Ecuador, Iran and Russia-Eastern Siberia are least attractive to investment.
"In Venezuela, flagrant abuse of the decision-making processes and delinquency in payment for delivered crude were among the factors deterring petroleum investment in the country," Green said.
The is administered each year to petroleum industry executives to help measure and rank the barriers to investment of oil- and gas-producing regions. A total of 710 respondents representing 563 companies completed the survey questionnaire this year, providing sufficient data to evaluate 156 jurisdictions.
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The Fraser Institute is an independent Canadian public policy research and educational organization with offices in Vancouver, Calgary, Toronto, and Montreal and ties to a global network of think-tanks in 87 countries. Its mission is to measure, study, and communicate the impact of competitive markets and government intervention on the welfare of individuals. To protect the Institute's independence, it does not accept grants from governments or contracts for research. Visit .
Contacts:
Media Contact - The Fraser Institute
Dr. Kenneth P. Green
Senior Director, Energy and Natural Resources
Office: (403) 216-7175 ext. 426 or Mobile: 403-620-0703
(at)KennethPGreen
The Fraser Institute
Mark Hasiuk
Media Relations Specialist
(604) 688-0221 ext. 517
(at)FraserInstitute
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Datum: 20.11.2014 - 11:15 Uhr
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News-ID 354210
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