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The population of the UK is considerably larger while they had less oil reserves and their oil is more costly to extract.
by dogma1138 8y ago
The population of the UK is considerably larger while they had less oil reserves and their oil is more costly to extract.
- NeedMoreTea 8y agoWe'd have potentially ended up with a similarly sized fund but around a tenth per-capita. That would have been around $20k or $30k for every man woman and child - hardly trivial. Certainly not a reason not to bother or feel we got anything resembling a benefit from the resource dividend.
- dogma1138 8y agoHindsight is always 20/20, the Norwegian fund was setup because the country went bankrupt and needed to save its pensions a similar fund in the UK would’ve been about half of the total endowment the Norwegians had with 12 times the population it’s not that clear if it would’ve made any difference in the long term.