| From 234next.com: The fate of the Excess Crude Account (ECA) speaks to the need for clarity on the reasons why we held funds in the account in the first instance; and why we should look forward to keeping it (or anything that looks like it, including through a Sovereign Wealth Fund - SWF).
Two things matter in considering these dimensions of the ECA. First, was the seeming hurriedness with which government ran through the accounts; and second, the purposes for which it was run down. Both these considerations have fed popular angst over the spendthrift policies of managers of the economy. Yet, the ECA started life as a fairly decent idea..............................................Full Article: Source
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