Norway’s sovereign wealth fund built from oil and gas royalties saved has now surpassed CDN$1,500 billion ($1.5 trillion) while Alberta’s Heritage Savings and Trust Fund languishes at $18.2 billion. Norway started their fund in 1990 based on Alberta’s model. Peter Lougheed started Alberta’s fund in 1976.
Norway’s fund’s cumulative return since inception in 1990 has passed 4,000 billion Norwegian crowns (US$511 billion). By comparison Alberta’s Heritage Savings and Trust Fund established under Premier Peter Lougheed in 1976 has languished since the last oil price collapse in 1986 and sits at only $18.2 billion in spite of continually rising levels of oil and gas production and value of sales since 1986.

The Norwegian Fund invests the proceeds from Norway’s oil and gas production for future pensions in stocks, bonds and real estate abroad and is one of the world’s biggest shareholders, with stakes totalling 1.4 percent of all global stocks listed.
Time for Alberta to restore Premier Lougheed’s six famous principles of resource management which were:
Act like an owner
Collect your fair share
Save for a rainy day
Add value
Go slowly
Emphasize competence in government
#wellbeingeconom