What a odd comment.
Despite the thousands of workers it employs directly, supply chain income it generates to countless smaller firms, the actual oil being transported and exported, etc etc. All of those are heavily taxed and all of that "distributes" income to regular people whether through (often high paying) jobs or a higher tax income for the state.
This doesn’t follow. I think Alberta mostly used its oil revenues to fund current operating expenses, spreading the wealth around in a short term way to the populace at large.
Though royalties probably also have been too low.
While you're technically correct, the stock market primarily benefits those with enough disposable income to generate large investments where they do not need to draw down the principle, and that certainly isn't the majority of Americans.
Of course this is speculation, featuring ifs/buts and using numbers plucked from our neighbour across the North Sea ... however it's pretty plain to see that we screwed this opportunity up.