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North Dakota’s Oil Boom Fueling Legacy Fund

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Bakken reservoir fields in Williston Basin

The recent discoveries of massive oil reserves in North Dakota’s Bakken rock formation have given an economic jolt for the state. Oil sits underground in a shale rock formation extending across Canada’s Saskatchewan province, northeastern Montana and western North Dakota. This area is known as Bakken. With the utilization of hydraulic fracturing and high oil prices, extraction in the Bakken shale oil field has dramatically increased.

According to the U.S. government’s Energy Information Administration, in 2005 about 3,000 barrels were extracted per day. In 2010, the number is about 225,000 barrels per day.

In 1995, the United States Geological Survey checked Bakken and found about 151 million barrels of recoverable oil. Now there is an estimated 6 to 24 billion barrels of recoverable oil.
North Dakota’s state government predicts US$ 1.5 billion in surplus and reserves by June 30, 2013. The voter-approved Legacy Fund already had US$ 219.5 million which is funded by oil and gas tax revenue.

Follow the Money – Episode 45

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This longer-than-normal episode covers a wide range of issues including such as sovereign wealth funds, bitcoin, cryptocurrencies, Indian real estate, ESG, investment exclusions, central banking and more.

EPISODE 45

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The views in this media are expressed by Michael Maduell and other participants and are not reflective of the Sovereign Wealth Fund Institute (SWFI).

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CalPERS Board Elects Priya Mathur as Board President

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The board of the California Public Employees’ Retirement System (CalPERS) elected Priya Mathur as board president. The current president Rob Feckner was named vice president of the board. Feckner previously served as board president and vice president.

Priya Mathur is serving her fourth term on the CalPERS Board of Administration. Mathur is a principal financial analyst for Bay Area Rapid Transit District (BART). Mathur represents public employees on the CalPERS Board, which she joined in 2002. She currently serves on four committees: Governance, Investment, Pension & Health Benefits, and Risk & Audit. She chairs the Pension & Health Benefits Committee and is vice chair of the Governance Committee.

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Oman SGRF Contemplates $1 Billion Infrastructure Fund

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Oman’s State General Reserve Fund (SGRF) is in discussions on forming a US$ 1 billion infrastructure fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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