Why Did Canada Never Set A Sovereign Wealth Fund?

Canada is endowed with an abundance of natural resources. With such an advantage, it is curious the county never set up a sovereign wealth fund similar to what Norway has.

The premise is a simple one where a percentage of all resources extracted sold would go into a 'savings account' for the economic well-being of a country.

View it as 'saving for a rainy day'.

Alas, such long-term thinking eluded Canadian officials and now the country finds itself in massive debt while looking to create a 'green economy' which seeks to eliminate part of the sector  key to the country's prosperity and stability.

Missed opportunities should be Canada's motto.


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