Alberta’s decades long economic success is a result of resource wealth, relatively sound public policies and a growing skilled labour force. Compared to other energy-producing jurisdictions such as Alaska, North Dakota, Saskatchewan, Texas, and Wyoming, Alberta does well economically but there are areas of concern, which if ignored, may affect the province’s long-term prosperity.
In 1987, the value of Albertas Heritage Savings and Trust Fund stood at $12.7 billion. That year, the province faced a massive budget deficit and transfers to the fund from resource revenues were suspended. Such deposits did not resume again until almost two decades later and only lasted two years before being suspended again.