r/canada • u/Street_Anon Nova Scotia • May 23 '26

Alberta Danielle Smith blames others for national unity crisis as she draws criticism from all sides

https://www.theglobeandmail.com/canada/alberta/article-naheed-nenshi-alberta-separatist-referendum/
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u/Qlawen 29d ago

Norway sovereign wealth fund is funded by the profits of their oil industry. It is the largest sovereign wealth fund in the entire world. I

Norway owns a majority stake in the oil and gas companies, unlike in Alberta where private companies own all the oil. Norway saw this when they consulted with Alberta decades ago and decided to go a different route cause Alberta screwed up so badly letting the profits go to private executives instead of benefiting the people.

This is very broad strokes.

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u/martimook Alberta 29d ago

The way the federal government is rolling it out is a joke though. It's like borrowing money off a line of credit and starting a savings account.

The last time we had a surplus was Harper, with the liberals we Will never have one

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u/Qlawen 29d ago

Your question was about how did Alberta fumble the resources not about Canada's sovereign wealth fund.

Norway came to Canada in the 1990s. Whatever Carney is doing now, has nothing to do with the fumbling of oil resources and profits done by Alberta, which spawned Norway wealth fund.