I actually don't think the threat of Alberta separation will effect markets at all.
It used to be that political risk was a hugely important factor in investment decision making. That was at a time though, when political risk was only present in certain places.
The risk of Trump getting rid of CUSMA is a greater risk to Alberta's economy than the threat of separation really. The whole world is going nuts.
There is simply too much noise and companies can no longer meaningfully evaluate political risk. They are back to just looking at tax rates, unionization, and regulatory difficulty, all of which Canada fails at.