Ralph Klein has announced Alberta will opt out of equalization if Alberta’s oil revenue is included in the formula.

My source in Klein’s office has also let me know that Ralph Klein intends to opt out of the following as well:

-UNESCO
-The off-shore accord
-Canada’s mission to Afghanistan
-The Ontario teachers pension plan
-The Treaty of Versailles
-The United Federation of Planets

UPDATE: Check out BBG for everything you wanted to know about equalization but were too afraid to ask. I must admit, I agree with his analysis.