This report presents the results of the Fraser Institute's
second annual survey on barriers to investment in the
exploration and production of oil and gas. The rankings are
based on the grading of jurisdictions by managers and
executives in the petroleum industry.
A total of 396 respondents participated in this year's
survey, generating enough data to rank 81 jurisdictions. This
is a substantial increase from the 2007 survey, in which 54
jurisdictions were ranked.
In rating the jurisdictions, scores were assigned to each of
16 factors that affect investment decisions. The rankings were
calculated based on the proportion of negative scores garnered
by the jurisdictions for a specific factor. Thus, the greater
the proportion of negative responses a jurisdiction drew, the
worse its rating.
Six composite indices were developed to organize the results
along common themes. An All-Inclusive Composite Index
incorporates the rankings of all 16 factors and provides an
overall assessment of each jurisdiction. Based on this index,
Bolivia ranked as the jurisdiction with the worst barriers to
investment. Ecuador ranked second worst, followed by Venezuela.
All three countries also ranked as the three worst in 2007.
Among the other jurisdictions judged to have the worst
investment barriers were Chad, Iraq, Nigeria, Argentina, Sudan,