VANCOUVER, Oct. 23, 2018 (GLOBE NEWSWIRE) — If Alberta wants to attract more investment in the oil and gas sector, it must cut unnecessary red tape, finds a new study released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank. /EIN News/ — “Investors have been saying loud and clear for years that Alberta is increasingly an unattractive jurisdiction for investment because of needless and costly red tape,” said Kenneth Green, Fraser Institute senior fellow and author of Natural Resource Regulation in Alberta. The study finds that Alberta’s investment attractiveness has diminished in the eyes of oil, gas and mining executives, primarily due to the province’s increasing regulatory burden. For example, in 2013, 32 per cent of respondents to the Fraser Institute’s annual Global Petroleum Survey said environmental regulations were a deterrent to investment compared to 68 per cent in 2017, the latest year of comparable data. Likewise, the costs of complying with provincial regulations deterred investment for 32 per cent of respondents in 2013 compared to a staggering 70 per cent in 2017. Crucially, also in 2017, only nine per cent identified compliance costs as a deterrent in Texas and 24 per cent in North Dakota…. Read full this story
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