Fraser institute presents the Global petroleum survey: ranks Colorado, Thailand as best for investment; gives thumbs down to Bolivia, Venezuela, Ecuador. Release Date: December 10, 2007
CALGARY, AB-Colorado and Thailand are considered by petroleum industry experts as being the most attractive places in the world for investment in oil and gas exploration and development, according to the results of the first global survey of upstream petroleum companies released today by independent research organization The Fraser Institute.
Qatar, Romania, and the United Kingdom rounded out the top five jurisdictions with the best scores in the Global Petroleum Survey 2007’s All Inclusive Composite Index that ranked jurisdictions with the lowest barriers to investment.
Petroleum experts rate Bolivia, Venezuela, Ecuador, Russia and Iran as having the greatest barriers to investment, with many respondents emphatically stating that the risk and uncertainty brought on by government policies in these countries convinced them to stay away.
“It’s no surprise that the jurisdictions that top the survey as the most attractive for investment are those that not only offer the right geology, but offer stability and regulatory policies that are clear, certain, and not subject to change by political whim,” said Gerry Angevine, senior economist with The Fraser Institute’s Centre for Energy Policy Studies and lead author of the survey.
“At the other end, jurisdictions with the worst scores are those with a political climate of uncertainty. People won’t invest in an area if they feel the government could change the rules or expropriate their property at any moment.”