Scottish Oil Wealth Fund – What Could Have Been
17 Sept. 2014. A new economic analysis of a potential Scottish Oil or Sovereign Wealth Fund has found that in 24 years Scotland could earn the same annual revenue from an oil fund as current revenues from North Sea oil and gas tax receipts.
The new economic outlook, undertaken by economists for oilandgaspeople.com, the world’s largest oil and gas jobs board, found that Scotland could have amassed a fund worth between £73.64 billion and £147.28 billion in 24 years, the same time as the Norwegian Oil Fund has been running.
The economic analysis found that the Scottish Oil Fund would bring in an annual income of between £2.9 billion and £5.8 billion per year respectively in today’s prices, the same amount as current estimated tax receipts from North Sea oil and gas revenues.