| However, when it comes to oversight of the bounty afforded by natural resource revenues, Alberta has not been as persistent as other jurisdictions when it comes to investing natural resource rents in sovereign wealth funds. An adequately managed fund would have resulted in a substantial sum that could yield earnings to help stabilize the province's finances during downturns. Indeed, Alberta has squandered decades of natural resource revenues by not adequately investing them.
Although Alberta established the Alberta Heritage Savings Trust Fund (AHSTF) in 1976, there were no inflows to the fund for the period 1988 to 2005 and substantial outflows of income earned were made to the Alberta government's general operating fund and capital expenditures...............................................Full Article: Source |