28.03.2013 - Falkland oil claimed by Argentina sees Islanders join 1%: Energy
The Falklands’ first commercial oil discovery will make the islands in the South Atlantic rich, bringing the British territory of 2,563 people $10.5 billion in tax revenue over 25 years. The discovery “will no doubt be transformational for the islands, increasing government revenue several times over,” Mineral Resources Minister Stephen Luxton said in an interview. “What we’re looking for in a sovereign wealth fund is long-term economic security, a second string to our financial bow to the fishery,” he said, referring to the territory’s commercial fishing business...............................................Full Article: Source
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