| In a country where oil wealth has typically been controlled up by oil companies, the concept of the U.S. harnessing its energy boom to shore up its frayed public finances may be hard to conceive.
"Historically…the states have taxed oil revenue and funded money into permanent funds, like Alaska's Permanent Fund or the North Dakota Legacy Fund," said Michael Maduell, president of the Sovereign Wealth Fund Institute. Creating a Norwegian-like wealth fund would trigger "a heated debate between the federal government vs. state governments over resources," Maduell added. "The politics would be paralyzing, which is why it hasn't been done yet."..............................................Full Article: Source
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