A good problem to have

Rob has served as Treasurer and President of the Economics Society of Calgary and is currently the Vice-Chair of the Calgary Arts Academy, an Instructor for the University of Alberta’s National Advanced Certificate in Local Authority Administration and a Senior Fellow with the Atlantic Institute for Market Studies. [...] Fortunately, there is a way to avoid virtually Fortunately, there is a way all the downside of a resource revenue boom while enhancing the benefits it brings: Save to avoid virtually all the the revenue in an investment fund and use downside of a resource revenue the earnings the fund generates. [...] The fiscal panic created by the current downturn in oil prices8 highlights the need to prevent the blessing of natural resource revenue from turning into a ride on the boom-bust rollercoaster. [...] As of late 2014, the total value of the Permanent Fund Dividend program was $51.2-billion (USD).21 As a testament to its prudent management and the political foresight of state officials, the Fund generates more revenue for Alaska than oil does.22 The visibility of the dividend program helps ensure that the Fund is well managed and not used to achieve short-term political goals.23 © 2 0 1 5. A T L [...] In Alberta, and so far in Newfoundland and Labrador, it is a choice that has (notwithstanding much rhetoric to the contrary)32 been ignored in favour of spending the vast majority of non-renewable resource revenue in the here and now.