Study
| EST. READ TIME 1 MIN.Global Petroleum Survey 2009
This report presents the results of the Fraser Institute's 3rd annual survey of petroleum industry executives and managers regarding barriers to investment in oil and gas exploration and production in various jurisdictions around the world. The survey responses have been tallied to rank provinces, states, and countries by the severity of investment barriers such as high tax rates, costly regulatory schemes, and security threats, among other factors.
A total of 577 respondents completed the survey questionnaire this year, providing sufficient data to evaluate 143 jurisdictions. This is a substantial increase from the 2008 survey, in which 81 jurisdictions were rated, and the 2007 survey, in which 54 jurisdictions were rated.
The jurisdictions have been assigned scores for each of 16 factors that affect investment decisions. The scores are based on the proportion of negative responses a jurisdiction received; the greater the proportion of negative responses, the greater the perceived investment barriers and, therefore, the lower the jurisdiction's ranking. This year for the first time, the six Australian states, Australia's Northern Territory, and the Timor Gap were each evaluated as individual jurisdictions.
An All-Inclusive Composite Index derived from the scores of all 16 factors provides an overall assessment of each jurisdiction. On this basis, the 10 least attractive jurisdictions for investment are Bolivia, Niger, Venezuela, Ecuador, Sudan, Russia, Bangladesh, Nigeria, Kazakhstan, and Ethiopia.
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Gerry Angevine
Senior Fellow, Fraser Institute
Gerry Angevine is Senior Fellow in the Fraser Institute's Centre for Energy and Natural Resource Studies. Mr. Angevine has beenPresident of AECL, an energy economics consulting firm, since 1999 and was a Managing Consultant with Navigant Consulting Ltd. from 2001 to 2004. He was President, CEO, and a Director of the Canadian Energy Research Institute from 1979 to 1999. Prior to that, he worked as an economist at the Canadian Imperial Bank of Commerce and the Bank of Canada. Mr. Angevine has undertaken domestic and international studies in the markets for natural gas (including trade, pipelines and storage), oil and oil products (including oil sands, refining and investment), and electricity (including deregulation, water rentals, and renewables). He has advised the Alberta Department of Energy and testified before the National Energy Board as an expert witness. He has A.M. and Ph.D. degrees in Economics from the University of Michigan, a M.A. Economics degree from Dalhousie University and a B.Comm. from Mount Allison University.… Read more Read Less… -
Matthew Brown
Matthew Brown graduated from McGill University in 2008 with a BA in Economics. From September 2008 through May 2009 hewas an intern with the Fraser Institute's Centre for Energy Policy Studies. While with the Centre he assisted the Senior Economist in the administration of the 2009 Global Petroleum Survey and in drafting the report on the results of the survey. He also contributed to research on the impacts of the British Columbia carbon tax and to a comparative analysis of energy commodity taxes in large Canadian municipalities. Matthew is currently serving in Africa on an Aga Khan Foundation fellowship. He plans to study law at the University of Toronto in the fall of 2010.… Read more Read Less… -
Miguel Cervantes
Miguel Angel Cervantes is a former economist in the Fraser Institutes Global Resource Centre and co-author of the annual Surveyof Mining Companies, Global Petroleum Survey, and Economic Freedom of the Arab World report. He holds a bachelor's and masters degree in economics from the University of Texas at El Paso and is also a lecturer at HEC Montréal Business School.… Read more Read Less…
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