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MNP's TAKE: Saskatchewan is the best place in Canada to invest in oil and gas, according to conservative think tank The Fraser Institute in its annual Global Petroleum Survey. The report pegged uncertainty about Alberta's royalty regime under its new NDP government as dampening enthusiasm for the energy-rich province, while Saskatchewan's policies are seen as more competitive and stable among investors.
As oil and gas prices continue to be pressured, choosing a beneficial regulatory environment to operate in can play a stronger role in companies' strategic planning.
For more information on how MNP can help, contact Melissa Swayze at 306.842.8915 or [email protected]
BY THE CANADIAN PRESS
SASKATOON - The Fraser Institute's annual Global Petroleum Survey is ranking Saskatchewan's oil and gas reserves as the most attractive to investors in Canada.
The survey by the public policy think-tank also puts Saskatchewan eighth of 126 worldwide jurisdictions.
Manitoba ranked second and Newfoundland and Labrador sits third but Alberta dropped from 3rd last year to 7th this year.
Policy analyst Taylor Jackson says that's due to a number of policy changes under the new NDP government.
Those include an increase to corporate taxes, more environmental changes and a royalty review, adding cost and uncertainty to a sector already hampered by low oil prices.
The survey factors in both barriers to investment and the volume of oil and gas reserves.
Jackson says only five per cent of investors have concerns with Saskatchewan's royalty policies but in Alberta that number goes up to 39 per cent.
Premier Rachel Notley has defended the province's aim to complete a royalty review by the end of the year, saying it's necessary for the government to collect and save an ``appropriate share'' of Alberta's resource wealth.
Jackson says when it comes to Saskatchewan's barriers to investment, investors continue to rank the province as a high performer.
He says if the province continues to be highly touted for its competitive and stable policy environment, there could be the potential for more investors to move to Saskatchewan.
However, Jackson says investors were concerned with a couple of areas in the province, such as land claims in dispute and the cost of regulatory clients.
But he says the percentage of investors that are concerned about those two issues still rank below the national average.
Copyright (2015) Canadian Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
This article was written by The Canadian Press from The Canadian Press and was legally licensed through the NewsCred publisher network.
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