The Financial Post reports in its Friday, Jan. 21, edition that the Canadian Association of Petroleum Producers says investment in Canada's oil and natural gas industry will rise 22 per cent this year to $32.8-billion amid higher prices for hydrocarbons (alll figures Canadian unless otherwise stated). A Bloomberg dispatch to the Post reports that the $6-billion gain in investment marks the second straight year of "significant" increases. Still, CAPP warns that Canada is losing out to other energy-producing regions. Canada was viewed as a "top tier" jurisdiction for international investment in 2014, when it attracted $81-billion or more than 10 per cent of global upstream gas and oil investment. Forecasts suggest Canada's market share has fallen to 6 per cent -- a drop that represents more than $21-billion (U.S.) in potential investment. This year's investment growth will leave the industry about where it was in 2018, before the pandemic slashed demand. Many Canadian energy companies, similar to their U.S. peers, are paying down debt and returning cash windfalls from oil price gains to shareholders through stock buybacks and higher dividends as investors seek higher returns over growth.