Norways Oil fund is over $525 BILLION dollars! why does Alberta only have a million or so?

March 20, 2011 at 7:02 am | Posted in Alberta, Questions, Quotabull | 2 Comments

http://www.greenoilbook.com/the-blog/1-green-oil-blog/22-guest-blog-post-by-rick-schneider says Alberta has 1.7 trillion barrels of oil in the tar sands. at 2011 march prices thats approx 170 trillion dollars of oil.
http://www.anielski.com/Documents/The%20Norway%20Advantage.pdf shows how in 2002 norway was producing almost the same amount of Oil as Alberta, then Norways petroleum fund was worth $54 Billion while Albertas heritage trust fund was worth 12 billion.

Today according to http://en.wikipedia.org/wiki/List_of_countries_by_oil_production Norway produces 2,350,000 barels of oil per day vrs Alberta’s http://www.oilsands.alberta.ca/FactSheets/FS-Resource.pdf 1.9 m illion barrels per day. and soon to be 3.2 million barrels per day. yet according to google http://www.google.ca/webhp?sourceid=navclient&ie=UTF-8#hl=en&biw=1276&bih=548&rlz=1R2SNYI_enCA350&q=+what+is+the+current+value+of+norway%27s+petroleum+fund&aq=&aqi=&aql=&oq=+what+is+the+current+value+of+norway%27s+petroleum+fund&fp=841077ac11525354

Norways fund is now worth over $525 BILLION dollars while Alberta has a few billion of promisary notes and less than a million in cash in the bank…..

Norways saving grew by a factor of ten  from 2002 to 2011, from 54 billion to over 525 billion.
Alberta savings from 2002 to 2011 actually shrank! and grew smaller and went from 12 billion to 6 billion…