>Alberta has a wealth fund.

Since the 70s, yes, and it's minuscule because the oil companies socialize the risks and privatize the profits, less some token royalties. Norway's was established in the 90s and is multiple orders of magnitude larger, because they don't allow big oil to fuck them over.

>The amount Alberta has sent in equalization payments would have allowed us to have a far larger wealth fund than Norway has.

You are being fed a narrative.

Equalization payments are taken from federal tax revenues. Every Canadian pays taxes according to the same graduated tax rate schedule, whether Albertan or not.

Alberta does not "pay into" equalization payments. Provinces do not "send money to other provinces". That's simply not how the program works.