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The Monitor's View Norway’s model of prudence in oil wealth

As more nations set up funds for the money earned from natural resources or exports, many also adopt principles of transparency and accountability – and a concern for future generations. They should look to Norway, which runs the largest ‘sovereign wealth fund.’ 

Reuters

In about 20 countries, revenue from oil drilling accounts for more than 10 percent of the economy. This natural wealth has long been a tempting source of easy cash for a government’s short-term needs or budgetary holes. Yet as oil prices have fallen, more petroleum-producing nations are taking the long view. They are saving or investing the money to benefit future generations – and to prepare for the day the oil wells run dry.

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