Norway puts 100% of its share of oil and gas revenues into its sovereign wealth fund so let’s hope Canada does as well. Not like Alberta which pillages its Heritage Trust Fund for general government operations.
I want to contribute. Presently I do not live in Canada but hope and pray to return sooner than later. I hope they let me/us who reside outside of Canada participate.
Really this is excellent in principal. We now await details of just how it will work. Initially some have compared this to Norway who have done a fantastic job with the profits coming from the North Sea oil and currently have about $1.8Trillion in the fund!
I don’t think our Soverign Fund will be like that. This is an opportunity for any Canadian to invest however much they want. That part isn’t clear as yet. Will there be $10 bonds or $100 bonds anyone can buy through a bank? Carney did say the investment was guaranteed so you will always get your money back. Might it be like the UK when they had Premium Bonds and a number was drawn every month for a big winner, but the total value of the bonds was used by government. Will you have a choice as to what project you might want to invest in?
Lots of unanswered questions, but the answers will come soon, I am sure. Whatever they are, it is a great opportunity for those of us that truly support Canada moving forward to play a role, no matter how big or small, but we must also realize this will benefit our children and grandchildren children more than ourselves.
Taking a page out of Norway's book
Norway puts 100% of its share of oil and gas revenues into its sovereign wealth fund so let’s hope Canada does as well. Not like Alberta which pillages its Heritage Trust Fund for general government operations.
Great post, breaking everything down, Fred. I am also listening to him as I read haha
If they approach this fund like the CPP fund, we are good to go. Awesome returns and no hokety pokety like Alberta's AIMCo.
I want to contribute. Presently I do not live in Canada but hope and pray to return sooner than later. I hope they let me/us who reside outside of Canada participate.
Really this is excellent in principal. We now await details of just how it will work. Initially some have compared this to Norway who have done a fantastic job with the profits coming from the North Sea oil and currently have about $1.8Trillion in the fund!
I don’t think our Soverign Fund will be like that. This is an opportunity for any Canadian to invest however much they want. That part isn’t clear as yet. Will there be $10 bonds or $100 bonds anyone can buy through a bank? Carney did say the investment was guaranteed so you will always get your money back. Might it be like the UK when they had Premium Bonds and a number was drawn every month for a big winner, but the total value of the bonds was used by government. Will you have a choice as to what project you might want to invest in?
Lots of unanswered questions, but the answers will come soon, I am sure. Whatever they are, it is a great opportunity for those of us that truly support Canada moving forward to play a role, no matter how big or small, but we must also realize this will benefit our children and grandchildren children more than ourselves.