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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

If the UK has to have a shale gas sovereign wealth fund, it needs to do better than this

Posted on 12 November 2014

The government’s plans for a shale gas sovereign wealth fund lack the firm commitment to decarbonisation that is required. It is a case of better late than never, I suppose. Several decades after Norway channelled the country’s oil and gas wealth towards a sovereign wealth fund that transformed a relatively impoverished northern European nation into one of the world’s richest and most developed countries, the UK has indicated that it might have finally learnt the importance of finding a productive long term use for a lucky windfall.
Set against the context of the UK’s scandalous decision to burn through its North Sea oil and gas wealth twice over - once to release climate changing gases and a second time by diverting the proceeds into Thatcher’s election buying housing booms and tax cuts- this week’s announcement Ministers are planning a shale gas sovereign wealth fund is to be welcomed………………………………………..Full Article: Source


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This post was written by:

VRS - who has written 19873 posts on Opalesque Sovereign Wealth Funds Briefing.


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