[jagger27]

Alberta _had_ a sovereign wealth fund. What happened to it? Equalization payments don’t explain of the collapse of the once huge fund. It sure didn’t buy much local diversification!

You’d think Alberta would be more like Norway already then. Instead you have lifted pickup trucks and tailings ponds. Even more wealth won’t solve the cultural bankruptcy that’s making the province upset enough to consider separation to begin with.

To answer your original question, that’s why I think it’ll be more like Russia.

[dismalaf]

> Alberta _had_ a sovereign wealth fund. What happened to it?

It's literally still there. You just need to pay attention: https://www.alberta.ca/heritage-savings-trust-fund

It would be bigger without Canada limiting our export ability and taking money from us for equalization though.

[jagger27]

Never mind the fact that it shrunk or stagnated in value due to mismanagement for decades. Oil prices are low and you have a single buyer who hoses you already.

Equalization transfers have cost $67 billion TOTAL since 1957. Less than a billion per year. Alberta collects >$25 billion PER YEAR in royalties. Canada isn’t your enemy here. Your province is addicted to a bad deal. You could have built refineries 50 years ago. That’s not possible now. Imagine how much control of those new facilities would go to unaccountable corporations? It wouldn’t be a good deal and the capex is insane.

The federal govt has been supportive, even under Trudeau, for increasing export opportunities. And you think that will get easier, especially through BC, after secession? Why?

Alberta needed to pivot hard away from oil 20 years ago. The US wont need Alberta crude forever.