Manitoba has dethroned both Saskatchewan and Alberta as the most attractive Canadian province or territory for oil and gas investment, according to an international survey of petroleum executives and managers released today by independent research organization the Fraser Institute.

Saskatchewan, which was the top province in 2008, drops to the number two spot in Canada. But investors are most critical of Alberta, ranking the province as the least attractive among Canada provinces ranked for oil and gas investment. Aside from Manitoba and Saskatchewan, Alberta now also trails Nova Scotia, Ontario, Quebec, British Columbia, and Newfoundland and Labrador.…

"The survey results clearly show the industry's dissatisfaction with the Alberta government's misguided policies. Punitive royalty rates, a lack of consultation, and a growing anti-energy bias are common complaints about the Stelmach government," said Gerry Angevine, Fraser Institute senior economist and coordinator of the annual petroleum survey.…

Manitoba, the highest ranked province in 2009, is 21st internationally. Saskatchewan fell from 10th (of 81) in 2008 to 38th (of 143) worldwide. Nova Scotia ranked 54th, Ontario ranked 60th, Quebec 68th, British Columbia 71st, Newfoundland and Labrador 82nd, and Alberta 92nd.

Alberta's poor showing puts the province behind China, the Philippines, and Brazil as an attractive place to invest in upstream oil and gas development.

Haven't they heard? The America that always recovers is not in anymore. Any assumption of a recovery fails to consider the idea that we now have a government run by people who ignore American history and who are hell bent on changing America's future.

Obama has done more than apologize for America's greatness and generosity while abroad. He is wreaking havoc on the economy that paid for that greatness and generosity at home. Don't you remember? He is "the one" we've been waiting for to finally do something right around here.

Thus the conviction that Americans always bounce back and bring their economy with them is not necessarily relevant anymore. The rules for business have changed and continue to do so daily. Incentive has been devastated. The reliable motivations of the past do not matter, because most of those dynamics have been targeted as what is wrong with this country and they are systematically being removed at a stunning pace.

In reaction, Atlas is shrugging. And who can blame him (and her).

We cannot be on the verge of any meaningful recovery because we are in a downward swirl of liberal policy consequences -- and we have a government determined to correct this by getting more and more liberal.