Texas is once again the most attractive jurisdiction in the world for oil and gas investment, reclaiming the top spot from Oklahoma in an annual global survey of petroleum-sector executives released by the Fraser Institute.
After Texas, Oklahoma ranked second worldwide.
"Texas and Oklahoma have, for years, been seen as the most attractive jurisdictions in the world for oil and gas investors -- proof that sound regulatory policies and stable environmental protections help attract scarce investment dollars even when commodity prices are down," said Kenneth Green, the Fraser Institute's senior director of natural resource studies.
The 2017 survey ranks 97 jurisdictions worldwide based on their barriers to investment (e.g., taxation, costly regulatory obligations and uncertainty over environmental regulations) and on the size of oil and gas reserves.
This year, U.S. states comprise six of the top 10 jurisdictions around the world: Texas (first), Oklahoma (second), North Dakota (third), West Virginia (fifth), Kansas (sixth) and Wyoming (ninth).
The 10 least attractive jurisdictions for oil and gas investment are Yemen, France, Cambodia, California, Indonesia, Ecuador, Iraq, Libya, Bolivia and Venezuela.
Among the 15 jurisdictions with the largest petroleum reserves worldwide, Texas is No. 1, followed by United Arab Emirates, Alberta (Canada), Kuwait and Egypt.
Among regions, Europe finished second to the U.S., followed by Canada and Australia. Globally, every region except Africa, Canada, Latin America and the Caribbean experienced declines in investment attractiveness, according to the survey.
For more information, visit www.fraserinstitute.org or call (604) 688-0221.
