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Topic: Fraser Institute report about NL

skarredmunkey
rabble-rouser
Babbler # 11117

posted 11 December 2007 05:49 PM

In one of their typical exercises in hyperbole, the Fraser Institute compared the state of oil and gas investment, exploration and development in Newfoundland and Labrador to that which exists in Russia, Iran, Pakistan, Cuba, Argentina, Bolivia, Venezuela, Ecuador, Nigeria, Libya, Yemen, Egypt, and Angola. (CHQR link and link to report)

On the same day it was revealed that Newfoundland and Labrador's budget surplus was set to triple to $881 million.

Pissing off the Fraser Institute AND a budget surplus on the same day?

Newfoundland and Labrador must be doing something right.

From: Vancouver Centre | Registered: Nov 2005 | IP: Logged

Briguy
rabble-rouser
Babbler # 1885

posted 12 December 2007 04:05 AM

Hilarious as usual. The Fraser Institute created a report not based on economic fundamentals (potential returns, NPV, etc.), but based on answers to surveys sent out to oil and gas executives. Of the surveys sent out, 375 were used (no mention on how many were returned). No surveys were sent to government officials employed with O&G regulators, none to the general public, and none to other associated industry members who might be affected by the local O&G industry.

In the end, the responses that cited Newfoundland and Labrador as a bad place to invest were all involved with the Hebron development project. No bias there.

quote:
Newfoundland and Labrador received a poor CEI rating mainly as a result of two factors: fiscal terms and labour availability. The fiscal terms factor appears to relate to the dispute that companies looking to develop the Hebron field were having with the provincial government, especially its desire to have
an equity position in the development. Some of the comments we received also reflect this dispute. Respondents also indicated that the general taxation regime and the local price of natural gas in Newfoundland and Labrador were significant negative factors for petroleum investors.

From: No one is arguing that we should run the space program based on Physics 101. | Registered: Nov 2001 | IP: Logged

skarredmunkey
rabble-rouser
Babbler # 11117

posted 14 December 2007 07:54 PM

I actually liked the comparisons of NL to other supposed baddies, especially our Latin American neighbours. If only the comparison to the likes of Venezuela and Cuba were legitimate, it'd be a wonderful compliment.

From: Vancouver Centre | Registered: Nov 2005 | IP: Logged

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