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How Denmark missed Dkr300 billion in oil savings

Monday, 12 December 2011
Denmark had been living large on its oil money for years while others such as Norway knew that oil is an irreplaceable resource and had been saving largely their gains from the business.


Had Denmark started saving its oil revenues in a sort of oil fund in back in 1996, its fortune would have now been estimated at over Dkr300 billion now, writes the newsletter Ugebrevet A4.

The fund would certainly have been far less than the Norwegian, but still, it would have been the tenth largest in the world.

Denmark could have been in a much better financial position today if politicians had created the oil fund, according to economics professor Jørgen Birk Mortensen of University of Copenhagen.
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