The AHSTF performed poorly because successive Albertan provincial governments slashed contributions to it, not because of the ghost of the NEP. It was established in 1976, then contributions were cut in half in 1983, and eliminated entirely in 1987. The NEP was gone by 1985.

What hurt Alberta was every cyclical crash in oil prices, and their steadfast refusal to implement additional revenue streams like a provincial sales tax while spending instead of saving their resource-boom surpluses.