Slip Sliding Away Compared with Norway's bulging bank account, Alberta's Heritage Fund falls well short of its potential.

The article compares the Alberta Heritage Savings Trust Fund of Canada with that of Norway's Government Pension Fund. The Alberta Heritage Fund was created in 1976 by then Canadian premier Peter Lougheed. It was decided 30 percent of all non-renewable-resource revenue in Canada will go into this fund. However, later governments stopped contributing to the fund and its present value stands at $17-billion. Also, Alberta has no targets for its fund nor does it have law with clearly laid out goals. On the contrary, Norway's Pension Fund has amassed $400-billion today.