BBC News
The "trillion pound" oil fund the government believes Britain could have built
For the first time, the Treasury calculates how much the UK could have raised by investing North Sea proceeds.
Via BBC News
·Excerpt
After a half-century wait, the United Kingdom now has an oil fund.
Chancellor John Healey announced the creation of an Energy Wealth Fund at the Jackdaw gas approval announcement on Wednesday, with £2bn of funding diverted from the existing National Wealth Fund.
A selection of energy exporting countries, mainly in the Gulf, but also including Norway, over the years have amassed multi-trillion funds using oil and gas revenues to create epic national piggy banks.
It has been a long-standing debate…
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