Saskatchewan Ranks First in Canada as a Place to Invest in the Oil and Gas Industry

[Anonymous]

For the third year in a row, Saskatchewan ranks first among the provinces and eighth globally as a place for the oil and gas industry to invest out of 126 jurisdictions world-wide, according to the annual survey of global petroleum industry executives conducted by the Fraser Institute.



The only caveat is that the ranking ignores proven oil and gas reserves and focuses solely on survey responses. On that basis, Manitoba ranks second in Canada (10th globally), followed by Newfoundland and Labrador in third place (26th globally), while Alberta falls to seventh place provincially (38th place overall).



The NDP government, which raised the corporate tax rate to 12 per cent and announced a review of oil royalties following its election in May, has reduced investor confidence in that province, the report said.  And the survey was conducted before the Notley government doubled the carbon tax from $15 per tonne to $30 by 2018 and placed a hard cap on oilsands greenhouse gas (GHG) emissions of 100 megatonnes (MT) a year from 70 MT currently.



However, when the size of proven reserves is taken into account, Alberta ranks third overall, the report said Tuesday. Only Texas and United Arab Emirates ranked ahead of Alberta, while Qatar and Kuwait were fourth and fifth respectively.



Ken Green, director of the institute's centre of natural resources and co-author of the 2015 survey, said Saskatchewan's top ranking is no surprise, having placed first among the provinces in 2015, 2014, 2013 and 2011. "It's really quite good and it's also very consistent," Green said.



However, he added, size does matter in the oil and gas industry and Saskatchewan, with relatively small proven reserves of 1.583 billion barrels of oil equivalent (BOE), isn't in the same league as Alberta, with 175.3 billion BOE. "We know that the largest amounts of investors are going to go toward the largest accessible and worthwhile reserves."



But Green said Saskatchewan could be the beneficiary of the recent changes in the taxation and royalty regime in Alberta, similar to what happened when the former Stelmach PC government hiked royalty rates following a review. "The last time this was done in 2007, both B.C. and Saskatchewan benefited by picking up exploration investment at a time when Alberta declined."



Laurie Pushor, deputy minister in the Ministry of the Economy, said it's no accident the industry likes Saskatchewan's royalty and taxation policies.  "We have clear direction from the Premier (Brad Wall) and Minister (of the Economy Bill) Boyd that stability and predictability are fundamentally important to industry. In volatile commodity price times, it's that much more important."



Pushor noted that Saskatchewan's conventional oil drilling is down 45 to 50 per cent since oil prices collapsed, while Alberta's conventional oil drilling has declined by 65 to 70 per cent.  "We've tried to be good partners (with industry)."

http://leaderpost.com/business/energy/saskatchewan-still-ranked-first-in-fraser-institute-petroleum-survey">http://leaderpost.com/business/energy/s ... eum-survey">http://leaderpost.com/business/energy/saskatchewan-still-ranked-first-in-fraser-institute-petroleum-survey



The reason for this is our premier Brad Wall is not kicking our industry while it is down like Alberta's NDP government is.

[Anonymous]

For the third year in a row, Saskatchewan ranks first among the provinces and eighth globally as a place for the oil and gas industry to invest out of 126 jurisdictions world-wide, according to the annual survey of global petroleum industry executives conducted by the Fraser Institute.



The only caveat is that the ranking ignores proven oil and gas reserves and focuses solely on survey responses. On that basis, Manitoba ranks second in Canada (10th globally), followed by Newfoundland and Labrador in third place (26th globally), while Alberta falls to seventh place provincially (38th place overall).



The NDP government, which raised the corporate tax rate to 12 per cent and announced a review of oil royalties following its election in May, has reduced investor confidence in that province, the report said.  And the survey was conducted before the Notley government doubled the carbon tax from $15 per tonne to $30 by 2018 and placed a hard cap on oilsands greenhouse gas (GHG) emissions of 100 megatonnes (MT) a year from 70 MT currently.



However, when the size of proven reserves is taken into account, Alberta ranks third overall, the report said Tuesday. Only Texas and United Arab Emirates ranked ahead of Alberta, while Qatar and Kuwait were fourth and fifth respectively.



Ken Green, director of the institute's centre of natural resources and co-author of the 2015 survey, said Saskatchewan's top ranking is no surprise, having placed first among the provinces in 2015, 2014, 2013 and 2011. "It's really quite good and it's also very consistent," Green said.



However, he added, size does matter in the oil and gas industry and Saskatchewan, with relatively small proven reserves of 1.583 billion barrels of oil equivalent (BOE), isn't in the same league as Alberta, with 175.3 billion BOE. "We know that the largest amounts of investors are going to go toward the largest accessible and worthwhile reserves."



But Green said Saskatchewan could be the beneficiary of the recent changes in the taxation and royalty regime in Alberta, similar to what happened when the former Stelmach PC government hiked royalty rates following a review. "The last time this was done in 2007, both B.C. and Saskatchewan benefited by picking up exploration investment at a time when Alberta declined."



Laurie Pushor, deputy minister in the Ministry of the Economy, said it's no accident the industry likes Saskatchewan's royalty and taxation policies.  "We have clear direction from the Premier (Brad Wall) and Minister (of the Economy Bill) Boyd that stability and predictability are fundamentally important to industry. In volatile commodity price times, it's that much more important."



Pushor noted that Saskatchewan's conventional oil drilling is down 45 to 50 per cent since oil prices collapsed, while Alberta's conventional oil drilling has declined by 65 to 70 per cent.  "We've tried to be good partners (with industry)."

http://leaderpost.com/business/energy/saskatchewan-still-ranked-first-in-fraser-institute-petroleum-survey">http://leaderpost.com/business/energy/s ... eum-survey">http://leaderpost.com/business/energy/saskatchewan-still-ranked-first-in-fraser-institute-petroleum-survey



The reason for this is our premier Brad Wall is not kicking our industry while it is down like Alberta's NDP government is.

My husband's company is losing work everywhere in the world, but no place as quickly as here in Alberta..



They will have more work from their Fort St John, BC and Estevan Saskatchewan shops this winter.

[Anonymous]

What does he do?

[Anonymous]

What does he do?

He works as a shop manager for a specialized oilfield service contractor..



They provide electrical systems for top drives.

[Anonymous]

What does he do?

He works as a shop manager for a specialized oilfield service contractor..



They provide electrical systems for top drives.

It will be a tough in the coming year for service companies.

[Anonymous]

What does he do?

He works as a shop manager for a specialized oilfield service contractor..



They provide electrical systems for top drives.

It will be a tough in the coming year for service companies.

Very tough Herman.

 ac_crying

[Anonymous]

The recall Nothead's dippers has over 50,000 signatures now.  

[Anonymous]

I saw on local news this morning that Alberta's unemployment rate will exceed the national average for the first time in 27 years.

[Anonymous]

Normally drilling contractors would be scrambling to find crews to man rigs at the start of the winter drilling season. But, that is not the case this year. My field time will be sporadic this winter.

[Anonymous]

Normally drilling contractors would be scrambling to find crews to man rigs at the start of the winter drilling season. But, that is not the case this year. My field time will be sporadic this winter.

On our side of the industry the oil is still flowing, but cutting costs and sometimes drastically is what every operating company is striving to do. Contractors are the ones who have to make the deep cuts to wages, number of workers, machinery, camp and fuel.

[Phagdish Hardy]

We effeminate, white, Vancouver, homo, idiots want to keep Canada the only major reserves of crude on the planet without access to tide water and international markets. The infrastructure it needs would be a multi-billion dollar stimulus and it would ensure higher prices for producers and halt industry pay cuts, but it may upset OPEC and California billionaires. Carbon taxes are another good way to give us a competitive disadvantage. They won't affect climate change either, but if it's bad for Canadian workers, we support it.

[Anonymous]

We effeminate, white, Vancouver, homo, idiots want to keep Canada the only major reserves of crude on the planet without access to tide water and international markets. The infrastructure it needs would be a multi-billion dollar stimulus and it would ensure higher prices for producers and halt industry pay cuts, but it may upset OPEC and California billionaires. Carbon taxes are another good way to give us a competitive disadvantage. They won't affect climate change either, but if it's bad for Canadian workers, we support it.

Do you enjoy this Shen Li?

 :001_rolleyes:

[Phagdish Hardy]

We effeminate, white, Vancouver, homo, idiots want to keep Canada the only major reserves of crude on the planet without access to tide water and international markets. The infrastructure it needs would be a multi-billion dollar stimulus and it would ensure higher prices for producers and halt industry pay cuts, but it may upset OPEC and California billionaires. Carbon taxes are another good way to give us a competitive disadvantage. They won't affect climate change either, but if it's bad for Canadian workers, we support it.

Do you enjoy this Shen Li?

 :001_rolleyes:

Enjoy what? I know Shen Li is a fucking brilliant poster, but I am the real Phagdish Hardy. ac_dance  

[Anonymous]

We effeminate, white, Vancouver, homo, idiots want to keep Canada the only major reserves of crude on the planet without access to tide water and international markets. The infrastructure it needs would be a multi-billion dollar stimulus and it would ensure higher prices for producers and halt industry pay cuts, but it may upset OPEC and California billionaires. Carbon taxes are another good way to give us a competitive disadvantage. They won't affect climate change either, but if it's bad for Canadian workers, we support it.

What in the hell is this.

[Anonymous]

We effeminate, white, Vancouver, homo, idiots want to keep Canada the only major reserves of crude on the planet without access to tide water and international markets. The infrastructure it needs would be a multi-billion dollar stimulus and it would ensure higher prices for producers and halt industry pay cuts, but it may upset OPEC and California billionaires. Carbon taxes are another good way to give us a competitive disadvantage. They won't affect climate change either, but if it's bad for Canadian workers, we support it.

What in the hell is this.

Confessions of a West coast white leftist retard.