Alberta's Trillion Dollar Mistake

 Fifty years ago, Alberta had a chance to build one of the greatest sovereign wealth funds in the world. It could have been a trillion-dollar province.This episode, host Sam traces the full story of the Alberta Heritage Savings Trust Fund: the booms, the busts, and the mistakes made along the way. How did the richest province in Canadian history end up with almost nothing saved? And now that Mark Carney is trying to build something similar for the whole country, does Ottawa actually know what it's doing, or is it about to make the same mistakes all over again?Host: Sam KonnertCredits: Aviva Lessard (Senior Producer), Sam Konnert (Host/Producer), Noor Azrieh (Host/Producer), Annie Tuba (Producer), Caleb Thompson (Audio Editor and Technical Producer), Tristan Capacchione (Senior Production Supervisor), Jesse Brown (Editor), Tony Wang (Artwork)Photo Credit: @ABDanielleSmithGuests: Trevor Tombe, Keith BrownseyBackground reading:Alberta government expects $100 payouts to arrive within 2 weeks of applications – Global NewsThe Canada Strong Fund isn’t a sovereign wealth fund — and that’s OK – Policy OptionsCanada’s new sovereign wealth fund is ambitious, but its design raises questions – The ConversationAlberta's fund a cautionary tale for Carney's national sovereign wealth fund – National PostAlberta’s oil inheritance is being pilfered (by Albertans) – The Globe and MailSponsors: Visit fizz.ca to learn more about Fizz mobile and its long list of added-value features, and activate a first plan using the referral code CAN40 to get 40$ off and 10GB of free data.Douglas is giving our listeners a FREE Sleep Bundle with each mattress purchase. Get the sheets, pillows, mattress and pillow protectors FREE with your Douglas purchase today at douglas.ca/canadalandSee less carts go abandoned and more sales go ‘CHA CHING’ with Shopify and their Shop Pay button.  Sign up for your one-dollar-per-month trial today at Shopify.caDid you know we have a monthly supporter-exclusive show? Last week, on Off the Record, Sam Konnert asked Jesse Brown all about the state of the company and where we're going in 2026. Also, why did Jesse cave to the union's demands in contract bargaining?If you want to hear that (or if you want to catch up on all the great episodes of Off The Record you’ve missed!) become a supporter at canadaland.com/join.If you value this podcast, Support us! You’ll get premium access to all our shows ad free, including early releases and bonus content. You’ll also get our exclusive newsletter, discounts on merch, tickets to our live and virtual events, and more than anything, you’ll be a part of the solution to Canada’s journalism crisis, you’ll be keeping our work free and accessible to everybody. Do you know someone who should work at Canadaland? Well, our audio journalism fellowship is back this fall, and applications are open from now til the end of June. We’re looking for a couple of recent grads or working journalists who want to move into the world of audio journalism. Find out more or apply by going to labs.canadaland.com Make sure you’re up to date on our upcoming events by going to canadaland.com/live!Can't get enough Canadaland? Follow us @Canadaland_Podcasts on Instagram and @Canadaland_Media on TikTok! Hosted on Acast. See acast.com/privacy for more information.