Canada Just Built Its Own Norway Fund With Oil Money and Trump Can’t Touch a Single Dollar Norway discovered oil in 1969 and chose to save much of its resource wealth through a sovereign wealth fund.
Today, that fund is worth over $1.7 trillion and is the largest in the world. Canada has now taken a similar step by launching the Canada Strong Fund, seeded with $25 billion over three years from energy-related revenues.
The move comes as Canada’s energy exports reach record levels, boosted by higher oil prices and increased pipeline capacity. Supporters argue that saving resource revenues instead of spending them immediately can create long-term wealth for future generations, just as Norway did.
The fund is also seen as a way to strengthen Canada’s economic independence by building a financial buffer against external pressures, including trade disputes. However, questions remain about how the fund will be managed, protected from political interference, and expanded over time.
While Canada’s fund is still small compared to Norway’s, it marks the beginning of a long-term strategy to convert natural resource wealth into lasting financial assets for future Canadians.