UK Osborne Keen on Shale Gas-Backed Sovereign Wealth Fund

Posted on 11/10/2014

George Osborne, UK Chancellor of the Exchequer, commented on BBC Radio 4 that shale gas extraction revenues could be held in a sovereign wealth fund. The UK is looking at ways to lower its dependence on oil imports, while creating a savings vehicle from taxable earnings, like its northern neighbor Norway. Osborne said, “That’s a […]