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Alberta is losing ground to Saskatchewan as an attractive place to invest for oil and gas companies, says the latest annual global survey of energy-sector executives by the Fraser Institute.

A report released Tuesday by the conservative-minded think tank said Alberta dropped 18 spots to 43rd out of 96 jurisdictions worldwide on a “policy perception index,” which measures the extent that government policy discourages oil and gas investment.

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In 2014, Alberta ranked in the top 15, but fell to 25 last year.

“The Alberta government has introduced policies that are confusing and possibly costly, creating uncertainty for the oil and gas industry, which can invest elsewhere,” said Kenneth Green, senior director of the Fraser Institute’s Centre for Natural Resources and co-author of the 2016 Global Petroleum Survey.

Alberta earned low marks for regulatory duplication and inconsistencies, high taxation and uncertain environmental regulations, the report said.