Alberta’s savings hobbled by oil sands
Potential bonanza for Heritage Fund is not without caveats
For the first time in decades, with the most recent global energy crisis driving prices higher, politicians in Alberta are talking about stashing relatively large sums in the Heritage Fund—essentially a sovereign wealth fund (SWF)—or at least paying down the province’s burgeoning debt. This past summer, once it became apparent Alberta was going to achieve a large budget surplus this fiscal year (FY), then premier Jason Kenney announced the “largest-ever single-year investment in the Heritage Fund”: a total of C$2.9bn ($2.14bn). This was to be achieved by allowing the fund to retain its investment income from the previous year and by allocating it an additional C$1.7bn. In November, at the ti

Welcome to the PE Media Network
PE Media Network publishes Petroleum Economist, Hydrogen Economist and Carbon Economist to form the only genuinely comprehensive intelligence service covering the global energy industry

Comments