Danielle Smith, Alberta premier
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
Also in this section
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
17 February 2026
Siemens Energy has been active in the Kingdom for nearly a century, evolving over that time from a project-based foreign supplier to a locally operating multi-national company with its own domestic supply chain and workforce
17 February 2026
Eni’s chief operating officer for global natural resources, Guido Brusco, takes stock of the company’s key achievements over the past year, and what differentiates its strategy from those of its peers in the LNG sector and beyond
16 February 2026
As the third wave of global LNG arrives, Wood Mackenzie’s director for Europe gas and LNG, Tom Marzec-Manser, discusses with Petroleum Economist the outlook for Europe’s gas market in 2026
