Energy Competitiveness Survey Places Wyoming At Top

Wyoming still leads the nation in energy production and investment, despite recent downturns in the industry.

The Fraser Institute's 2023 “Energy Sector Competitiveness Survey” has placed Wyoming at the top for state investments for the second year in a row.

California and Colorado are both at the bottom.

The study examines how states and Canadian provinces have invested in oil and gas exploration, extraction, and production.

The study asked where companies were being encouraged or discouraged in such investments and by how much.

Were these companies being over-regulated? Where?

With every regulation comes heavy cost of compliance, which makes it more difficult to produce energy and drives up the cost for customers.

Wyoming has improved regulations, for the most part, making them less onerous, more simple, and less costly.

“I think this report just goes to show that our leaders here in Wyoming understand where their funding comes from, and where the livelihood of the majority of Wyoming residents comes from. And they try to do their best to make sure that the regulatory framework supports the industry, while still also supporting the safety and environmental landscapes that we have here in Wyoming,” Ryan McConnaughey, spokesperson for the Petroleum Association of Wyoming, told a reporter from JTN.

Alaska state director for Power The Future told JTN it was encouraging to see the state had improved its position on the survey over the years.

“If it wasn’t for the ongoing assault from the Biden administration on our natural resources economy – Alaska has faced a total of 56 executive or administrative orders since Biden took office – we’d rank even higher,” Whitbeck said.

Between 10% and 20% of Alaskan respondents rated environmental regulations, cost of compliance, taxation, trade barriers, quality of infrastructure, disputed land claims, and protected areas as the biggest deterrents to investment in the state.

Finding California, New Mexico, and Colorado low on the list for encouraging investment is not surprising and shows why those states have had unreliable and expensive energy.

“While their leaders would say they are business friendly, that’s clearly not the case when it comes to energy. What is clear is that the rhetoric emanating from politicians in these states is a massive obstacle to creating more jobs and prosperity,” Behrens said.

Special thanks to Just The News.