Latest news with #HeritageSavingsTrustFund
Yahoo
19-07-2025
- Business
- Yahoo
How does Alberta plan to grow its rainy day savings fund to $250 billion?
Alberta's finance minister says $2.8 million from the province's surplus is going into the Heritage Savings Trust Fund to help meet its 2050 savings goal. What needs to happen to save $250 billion in 25 years?
CBC
19-07-2025
- Business
- CBC
How does Alberta plan to grow its rainy day savings fund to $250 billion?
Alberta's finance minister says $2.8 million from the province's surplus is going into the Heritage Savings Trust Fund to help meet its 2050 savings goal. What needs to happen to save $250 billion in 25 years?
Bloomberg
18-07-2025
- Business
- Bloomberg
Alberta Invests $2 Billion Into Wealth Fund to Speed Growth Plan
Canada's top oil-producing province of Alberta is injecting C$2.8 billion ($2 billion) into its provincial wealth fund, advancing a plan to wean itself off volatile resource revenue in the decades ahead. The investment brings the balance in Alberta's Heritage Savings Trust Fund to a record C$30 billion, the provincial government said Friday. The government also appointed board members to a new corporation that will oversee the fund.
Calgary Herald
09-05-2025
- Business
- Calgary Herald
Opinion: I miss the original (Progressive) Conservative Party of Alberta
Article content It feels like we are living in a time of unprecedented challenge in Alberta's relationship with Canada. But we were similarly challenged when we faced the 1970's energy crisis. Article content Article content In 1971, the provincial Progressive Conservatives under Peter Lougheed formed a majority government, resulting in a 44-year continuous dynasty that ended with the NDP election in 2015. Article content Article content When I moved to Calgary in the mid-1980s, I had the privilege of meeting Lougheed and serving on his constituency board in Calgary West. I miss his leadership, and I want to share some of what I miss. Article content Article content Lougheed stood tall for Alberta at a time when we needed it, including many a battle with the federal government. In that sense, some may feel Premier Danielle Smith is following in that tradition, but what is happening now couldn't be more different. Article content Here are some of Lougheed's principles: Article content Lead through vision and with responsibility for outcomes. There are basically two ways for leaders to attract followers — they can set a compelling vision and take responsibility to work through the inevitable challenges blocking that vision, or focus their followers on feeling like victims needing to be saved (by the leader). Every situation can be framed either way — it all lies in the narrative. Treat people with respect and dignity. Allies and adversaries all need to be heard and understood. Take responsibility. Every organization faces challenges. Stock markets seek quarterly results because any business, any size, can fail in a matter of months if it does not address challenges. A CEO who can't work with others to manage these challenges is quickly replaced. Establish values and principles, and stick to them. Article content These principles included: Article content As a non-renewable resource, cash from petroleum production is not ours to spend; it belongs to future Albertans. Lougheed created the Heritage Savings Trust Fund, which became the model for sovereign resource funds throughout the world (most notably Norway). If we had stuck with his plan, we would have a fund of more than $1 trillion today. To achieve our vision, take responsibility for developing technology. Lougheed established world-class research and innovation institutes in energy technology, medical research and data science to find solutions to current and future challenges, and to enhance Alberta's opportunities for economic diversification. Build bridges to Canadian provinces. The Heritage Trust Fund was used to lend money to Newfoundland, Nova Scotia, Manitoba, New Brunswick, Prince Edward Island and Quebec. How many friends would Alberta have today if we had chosen to continue to use our favourable advantage strategically to support other provinces? Our corporate sector must pull its weight. Lougheed forced the oil and gas sector to pace its growth and to constantly improve technology and environmental protection. In response, industry members complained and revoked his Petroleum Club membership. He took that criticism because he prioritized Alberta citizens. Twenty years after he left office, Lougheed warned against the pitfalls of unbridled oilsands expansion without requiring companion improvements in technology and emissions management.
