Report: California one of worst places in the world for oil and gas investments

California is as good a place for oil and gas investments as Yemen—no that is not a small town in the foothills—it is a socialist dictatorship in the Middle East.  Texas, of course is number one.  California loves high taxes and regulations that kill jobs—like AB 32 and the new AB 350.  Government creates wages rates and employee conditions, no longer a matter between companies and workers.

“Although California ranks third in the United States in crude oil production, it’s one of the worst places in the world to make oil or natural gas investments, according to a report released Tuesday by the Fraser Institute, which describes itself as an independent Canadian public policy research and educational organization.

The report lumps the state of California into a group of ten nations as worst for oil and gas investments. The other bottom-dwellers are Yemen, France, Cambodia, ,Indonesia, Ecuador, Iraq, Libya, Bolivia and, lastly, Venezuela.

Wow, California is with Cambodia and Venezuela.  That tells you how well Sacramento is doing..ready to elect responsible officials?  If not, what investments we do have will go away.

fracking oil gas

Report: California one of worst places in the world for oil and gas investments

Central Valley Business Times,  11/28/17

  • Canadian think tank ranks Texas as Number 1
  • California jumbled in with the likes of Yemen

“California continues to be plagued by concerns regarding regulations, taxation, and fiscal terms,” the report says.

The report’s co-author, Kenneth Green, adds that California Gov. Edmund Gerald Brown Jr.’s comments decrying a reliance on petroleum do not encourage investor confidence in the state, and that its “regulartory environment is extremely challenging.

Who’s tops? The researchers give that honor to Texas as the most attractive jurisdiction in the world for oil and gas investment, reclaiming the top spot from Oklahoma.

After Texas, Oklahoma ranks 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,” says Kenneth Green, the Fraser Institute’s senior director of natural resource studies and co-author of the 2017 Global Petroleum Survey.

The 2017 survey ranks 97 jurisdictions worldwide based on their barriers to investment such as taxation, costly regulatory obligations and uncertainty over environmental regulations and on the size of oil and gas reserves.

In this year’s report, U.S. states comprise six of the top 10 jurisdictions around the world: Texas (1st), Oklahoma (2nd), North Dakota (3rd), West Virginia (5th), Kansas (6th) and Wyoming (9th).

Among the 15 jurisdictions with the largest petroleum reserves worldwide, Texas is number one, followed by United Arab Emirates, Alberta (Canada), Kuwait and Egypt.

Among regions, Europe finished second to the United States, 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.

About the survey

The Global Petroleum Survey is administered each year to petroleum industry executives to help measure and rank barriers to investment of oil- and gas-producing regions. A total of 333 individuals completed the survey this year, providing sufficient data to evaluate 97 jurisdictions.

The Fraser Institute says its mission is to improve the quality of life for Canadians, their families and future generations by studying, measuring and broadly communicating the effects of government policies, entrepreneurship and choice on their well-being. To protect its independence. The institute says it does not accept grants from governments or contracts for research

 

About Stephen Frank

Stephen Frank is the publisher and editor of California Political News and Views. He speaks all over California and appears as a guest on several radio shows each week. He has also served as a guest host on radio talk shows. He is a fulltime political consultant.