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Dundas and other oil and gas executives point out that U.S. regulatory processes are more predictable and streamlined, its regulations change less frequently and it takes less time to get regulatory approvals to develop a resource, which has led the industry to become increasingly critical about Canada as a jurisdiction to drill for oil and gas and less likely to invest here.

They also point to reports such as the World Economic Forum’s Global Competitiveness Index ranking, which was updated on Oct. 16. Canada fell two places and is now the 12th most competitive jurisdiction in the world.

Photo by Tom Bateman/Grande Prairie Daily Herald-Tribune/Postmedia Network files

The WEF ranked the U.S. first overall, which oil and gas executives say is significant because it has become Canada’s main competitor for investment dollars in the energy industry — a trend that Dundas called a “massive change that changed everything.”

Capital spending in the U.S. oil and gas sector rose 38 per cent to $120 billion last year, Reynold Tetzlaff, PricewaterhouseCoopers LLP national energy leader, said in an email, citing data compiled by the Fraser Institute.

“The U.S. is more competitive in the oil and gas market today,” he said.

Now, Canadian-domiciled oil and gas producers are getting more vocal about the issue.

The U.S. is more competitive in the oil and gas market today Reynold Tetzlaff, PricewaterhouseCoopers LLP national energy leader

“There are four key challenges facing the oil and natural gas industry: market access, regulatory effectiveness, cost structure and fiscal competitiveness,” Canadian Natural Resources Ltd. said in an emailed statement.

CNRL is Canada’s largest upstream oil and gas producer with daily production exceeding one million barrels per day, or more than 20 per cent of the country’s total production.

“It is imperative that we maintain our high regulatory and environmental standards while also overcoming these challenges,” the company said.

Federal Finance Minister Bill Morneau has said Ottawa is tracking Canadian business competitiveness and regulatory burdens relative to the U.S., which also has the advantage of getting recent major tax cuts. But his government has not announced any changes yet.