Quote:
Originally Posted by mykalberta
I dont know the details either, I can only go by what the government reports:
"
Heritage Fund 2nd Quarter Update
November 15, 2006
At September 30, 2006, the fair value of the Heritage Fund stood at $15.4 billion. The net assets of the Fund increased by $995 million in the second quarter of 2006-07.
Contributions, inflation-proofing and unrealized capital gains accounted for the increase during the quarter.
"
http://www.finance.gov.ab.ca/business/ahstf/index.html
MYK |
Hey, thanks for posting that!
That is quite a substantial amount of money, but Alberta's economy rests *largely* on a non-renewable resource. Is this enough to sustain the province *when* the oil runs out? Plus, if I remember correctly (and it's completely possible that I am making this up) the administration of this fund is wonky. But, again, I can't really say. However that seems to be a large sum of money, and it is growing, so I do feel better about the whole situation.
I guess maybe a more diversified economy would please me. Maybe invest some of this money into other ventures that can prove to be beneficial after the economy is no longer oil-based. I just don't want to see people in the hundreds of thousands being screwed over and signing their lives over to banks without anything there for them.