One Took Off. The Other Took a Nap.
Ever look at someone else’s bank account and think, “Hey… didn’t we start at the same time?”
Yeah. That’s Canada looking at Norway right now.
Let’s Set the Scene:
1976: Alberta creates the Heritage Savings Trust Fund, an oil wealth fund.
1990: Norway creates the Government Pension Fund Global, an oil wealth fund.
Both had oil.
Both had boom years.
Both had opportunities to turn black gold into green futures.
But then… something happened.
Norway: “Let’s Invest and Grow This Thing.”
Saved EVERY YEAR.
Reinvested the profits.
Didn’t touch the capital.
Built the largest sovereign wealth fund on Earth: $1.6 TRILLION+.
They used oil money to:
Fund pensions 🧓
Pay for green energy ☀️
Influence global finance 💼
Basically become the dad who bought Apple stock in 1995.
Alberta: “We’ll Get Back to Saving Eventually…”
Started strong. 30% of oil royalties were saved.
But then… spending happened. Elections happened. Boom-bust cycles happened.
Contributions dried up. The fund stopped growing.
Today, it’s worth ~$21 billion. (That’s not a typo. That’s a sadness.)
It's like Alberta bought a gym membership in 1976 and never went back.
The Result?
Fund Year Started Value Today 🇳🇴 Norway 1990 $1.6 trillion 🇨🇦 Alberta 1976 $21 billion
Norway started late and still laughed all the way to the bank.
But It’s Not Too Late
Let’s stop pretending this is normal.
Let’s stop letting oil money evaporate like it’s Vegas winnings.
We could:
Create a federal sovereign wealth fund like grown-up countries do
Actually save and invest instead of plugging holes every time oil prices drop
Use the profits to fund the future: schools, healthcare, clean energy, debt relief
Final Thought:
If oil is the winning lottery ticket, then Norway bought real estate, and Alberta bought a snowmobile, a hot tub, and a warehouse full of broken dreams.
Let’s do better.
Let’s be the Norway our oil thinks we are.
Share this post