mcp wrote:
On Mon, 18 May 2015 19:19:00 +0100, Mizter T
wrote:

Never an entirely good idea to base ones country's future on oil wealth
though - its pretty toxic around most of the world, Norway being an
exception though they only got it right third time round.

Almost every country (he UK & Iraq are exceptions) with significant
oil income invests it in an oil fund. The return from the investments
is more stable than the oil income. Norway's oil fund is worth 800
billion, the UK is 1500 in debt.

I really doubt that most oil producers invest in a sovereign wealth
investment fund. Norway certainly does, and so do some Gulf states, but I
can't think of many others. Do the US, Nigeria, Venezuela, Russia?