US should start a SWF: ex-Wyoming treasurer

The US should use its revenue from mineral reserves to start a sovereign wealth fund, said Cynthia Lummis, a former state treasurer for Wyoming, at Central Banking Publications' Sovereign Wealth Management conference.

The US makes $12 billion a year from federal mineral royalties mostly located in the Gulf of Mexico, a portion of which, Lummis argued, could be placed in a permanent fund.

Wyoming had, Lummis said, set up a fund based on wealth from its natural resources, which made $1,000 a ye

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