However, the SNP government is talking rather less about a Norwegian-style oil fund these days.
The United States Oil Fund ( USO) is the most liquid of all oil ETFs.
The United States Oil Fund ETF (NYSE:USO) is set for a slightly higher open this morning.
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Calls to use the oil fund for populist projects instead of debt buyback will intensify.
It was supposed to be inspired by Norway's oil fund, most of which is saved.
Oil prices continued their decline overnight, which we often track using the United States Oil Fund (NYSE:USO).
Check out the action in the U.S. Oil Fund (USO), which tracks the movement of crude prices.
The United States Oil Fund, created in early 2006, tracks an investment that rolls over short-term oil futures.
Meanwhile Labour have raised doubts about the SNP's plans for a Norwegian style oil fund in an independent Scotland.
In the case of ETFs like the United States Oil Fund ( USO) here is how contango has played out.
The paper suggested accumulating cash in an oil fund would help provide stability but says this could lead to reduced public spending.
Norway's oil fund, one of the biggest investors in the world, rose in value by 13.4% last year, its second-best performance ever.
Since it is not practical to have a physically-backed crude oil fund, existing products rely on futures contracts to implement their strategies.
The word "pension" in the oil fund's official name is a bit misleading as the benefits for Norwegians is not restricted to pensions.
The drop in oil prices means it will not be possible to replenish the national oil fund as quickly as might be needed.
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And, as acknowledged in the leaked paper from the finance ministry this week, an oil fund would require sacrifices in future spending on public services.
The advice included the creation of an independent, transparent oil fund.
One way to partially combat this effect, and still use futures is to do what the United States 12 Month Oil Fund ( USL) has done.
The SNP has said it would like to see an oil fund set up in the event of independence to provide a revenue stream for future generations of Scots.
We're already seeing that in large sovereign-wealth funds, such as the decision by Norway's oil fund to adopt a GDP-weighted bond portfolio that ramps up the exposures to emerging markets.
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The global investment arm of the Government Pension Fund, as the oil fund is formally named, is the biggest investor in shares across Europe, so its holdings took a knock during the financial crisis.
In the UK, the Callaghan government of the 1970s flirted with the idea of setting up an oil fund, but in a time of mounting economic crisis it was too tempting just to grab the money.
Many investors choose to trade crude oil views via ETFs, such as the United States Oil Fund (USO) or iPath Crude Oil ETF (OIL), but the futures chart offers a baseline for recent market action.
If you like ETFs, United States Oil Fund LP ETF (NYSE: USO), United States 12 Month Oil Fund, LP (NYSE: USL), Direxion Daily Energy Bull 3X Shares (NYSE: ERX) will do well in this scenario.
Bloomberg Businessweek discussed this in an article called Amber Waves of Pain as it related to U.S. Oil Fund ( USO), U.S. Natural Gas Fund ( UNG), PowerShares DB Agriculture Fund ( DBA) and others.
The president also said they talked at length about increasing oil production and maybe even creating something called an oil fund that he says would be for the Iraqi people, though he didn't elaborate on any of the specifics of that point.
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