That is a good question about the hydropower. I didn't realize it was not part of the equalization. It seems that hydropower and oil/gas should be treated the same. I would like to know the policy reason for leaving it out but maybe it's a good reason. 

Brad Wall's province has lots of money with its potash and heavy oil.  I have lived in Alberta almost all my life and used to vote Conservative or PC back in the days. Next election I will almost certainly vote NDP provincially (but not federally). 

There is a serious rich/poor divide, getting worse in the U.S. although not too bad in Canada, and I support the equalization program in Canada despite its problems.  We have our differences, but as  I get older I am seeing more and more of the wisdom of sharing the burdens and benefits in this country to a significant degree. So yes equalization is not without its imperfections but I have really gotten turned off by the smallminded Wildrose in Alberta and winner take all attitude.