Petroleum Taxation in the Canadian Arctic: Unlocking Quiescent Hydrocarbons Through Fiscal Reform
Article from: OGEL 4 (2015), in Taxation
Abstract
In the Arctic Ocean, multi-year ice sheets are receding at an unprecedented rate, allowing modern day explorers access to an underexplored hydrocarbon frontier. However, given the unique commercial challenges associated with Arctic resource exploration, governments are required to mitigate economic and political uncertainties to attract the requisite investment needed to monetise these high-latitude hydrocarbons. This study undertakes a comparative and analytical review of the five littoral circumpolar countries to demonstrate that Canada lacks a competitive fiscal regime ...