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
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
