I always find it ironic , and a bit comical that people from out West, Alberta specifically are the first to criticize Ontario, when in the same posting , they say “ I don’t know Ontario , well “
From someone whose ancestors helped open up the west, aka homesteaders, to being born and raised in Alberta, I think I’m qualified to comment, since I’ve lived in the West & East . Maybe do a little research on the Heritage Trust Fund . That fund that was started during the Lougheed era, was supposed to save for the future, diversify the economy , and improve the life of Albertans
From 1980-2014, Alberta generated almost $190 BILLION in revenue from natural resources, guess what the balance was in 2014 ? $17.5 Billion
Guess where the majority of the funds went, that was supposed to be for the future ?
Successive Conservative Governments raided the fund for such projects as forestry , aviation and food processing . Aviation ? Yes, the Alberta Government actually owned an airline back in the mid 70’s. Pacific Western Airlines .
Now compare that fund to one set up in Norway . Alberta constantly withdrew money. Lougheed, Klein all had their hands in the pot . As for diversification. If Alberta had diversified, maybe the provinces books would not be so screwed up as they are now . I lived during Trudeaus NEP, and the rage that ensued . I remember Red Square being built in downtown Calgary .The province thought that the good times would never end . Boom, bust, boom. Every time there was a bust the government would say they had to diversify. They never did . They also hoped for the next boom to come to bring in the money, and the party would continue. Hate to tell you, the parties over
