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Petroleum industry executives and consultants increasingly view Canada as a less attractive place to invest in oil and gas projects, especially in comparison to the U.S., according to a survey conducted by the Fraser Institute.

It marked the first year in which none of the top 10 jurisdictions, as viewed by industry insiders, were located in Canada. Nine out of 10 were located in the U.S. with Texas, Oklahoma and Kansas leading the way.

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“The takeaway for Canada is we’re becoming increasingly less attractive to invest in than our neighbours, practically across the street,” said Ken Green, a co-author of the survey and resident scholar and research chair in energy at the Fraser Institute.

Within Canada, only Alberta is considered a “large reserve” holder as it has the third largest oil and gas basin in the world. Among large reserve holders, however, it ranked third in terms of its perception as a place to invest, behind Texas and Russia — but still ahead of eight other countries including Venezuela, Iraq and Nigeria.