Albertans had an average personal disposable income of over $36,500 in 2009, the highest in Canada. Alberta has the third largest petroleum reserves in the world, after Saudi Arabia and Venezuela, and total crude oil and equivalent production is expected to reach 3.1 million barrels per day by 2018 (ERCB forecast). Alberta produced 68% of Canada's crude oil and 81% of its natural gas in 2009. Alberta offers one of the most competitive business tax environments in North America -- no provincial retail sales tax (PST), provincial capital taxes, payroll taxes or machinery and equipment taxes. Alberta's strength as a major exporter of primary commodities and manufactured products to the global marketplace is supported by a highly efficient and competitive transportation and logistics system. One in six Albertans was born outside of Canada, making Alberta one of the most multi-national and multi-cultural provinces in the country. Alberta offers a 10% refundable provincial tax credit for scientific research and experimental development encouraging research and development in Alberta. It is worth up to $400,000 annually per company.