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by Stockwatch Business Reporter

West Texas Intermediate crude for January delivery lost 12 cents to $57.99 on the New York Merc, while Brent for January lost 23 cents to $63.61 (all figures in this para U.S.). Western Canadian Select traded at a discount of $17.65 to WTI ($40.34), unchanged. Natural gas for January gained 15 cents to $3.07. The TSX energy index fell a fraction to close at 185.40.

British Columbia is now the least attractive jurisdiction in Canada for oil and gas investment, according to the Fraser Institute's 2017 Global Petroleum Survey, released this morning. The annual survey examines jurisdictions around the world and ranks them according to the institute's policy perception index, a measure of the extent to which policies deter exploration and production. Examples of deterrents include high taxes, political instability, confusing regulatory requirements and so on. In the aftermath of British Columbia's provincial election in May, which culminated in a government-forming agreement between the B.C. NDP and Green parties -- both vocally opposed to many forms of resource development -- British Columbia tumbled in the survey's rankings to 76th place in 2017 (out of 97 jurisdictions) from 36th place in 2016 (out of 96 jurisdictions). This was by far the worst rank in Canada and was also behind jurisdictions such as Myanmar, Kazakhstan and Congo-Brazzaville.

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