Norway’s Oil Savings Just Hit $1 Trillion. Alberta Has $17 Billion. What Gives?

Norway Sovereign Wealth Fund

Norway’s sovereign wealth fund just hit a grand total of US $1 trillion dollars.

Just in case you’re wondering, 12 zeroes looks like this: $1,000,000,000,000

The number is 2.5 times Norway’s annual GDP and serves as the largest sovereign wealth fund in the world. It has also somewhat predictably triggered a new round of consternation among Albertans, mourning the state of their own fund currently worth a measly $17.2 billion.

But Andrew Leach, associate professor at the University of Alberta’s business school and chair of the province’s completed Climate Change Advisory Panel, said it’s important to read past the (Read more…) when it comes to the Norway vs. Alberta comparison.

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