09.09.2011 - A heritage fund for better future
Alberta established a heritage fund in 1976, committing to set aside one-third of resource revenues for the future. Unfortunately, the government abandoned the commitment in 1987 and has repeatedly tapped the fund to cover current spending. Norway has been far more successful. The country - with fewer than five million people - has placed all oil revenues in a long-term fund, which is now valued at more than $500 billion. The investments are intended to provide revenue for the inevitable day when the resource is gone..............................................Full Article: Source
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