Monday, December 1, 2014
Oklahoma ranks No. 1 on the Fraser Institute’s list of best places for ease of investment in oil and gas worldwide.
The eighth annual survey from the public policy research institute headquartered in Canada ranked 156 jurisdictions in the United States and other parts of their world based on how many regulatory and other barriers an area had that discouraged those investing in oil and gas exploration and production facilities. The higher the ranking, the more welcoming to these kinds of investments the state is.
In addition to the No.1 worldwide ranking among the 156 locations in Fraser's "Global Petroleum Survey 2014," Oklahoma was ranked as the No. 1 most attractive jurisdiction with medium-sized oil and gas reserves; the No. 1 most attractive for investment in petroleum exploration and development; and No. 1 for having the lowest barriers for investment, among others. Oklahoma has ranked No. 1 overall among all oil and gas jurisdictions worldwide for the last three years. No. 2 is Mississippi, which has ranked second for the last three years.
Scores were based on the proportion of negative responses for a jurisdiction. Participants in the survey included CEOs, vice presidents, professional consultants and company advisors.
Identified barriers that discouraged oil-and-gas investing and exploration included high tax rates, costly regulatory obligations, uncertainty over environmental regulations, interpretation and administration of regulations governing the petroleum industry and concerns about political stability and security of personnel and equipment. Oklahoma ranked high because of its good business climate.
Read the report at the Fraser Institute.