A presentation made to the Joint Revenue Committee in response to a WyoFile series on investment performance was rife with inaccuracies, unfounded accusations and obfuscation.
Constraints placed on Wyoming’s Permanent Mineral Trust Fund reined in its growth; now a low-return environment may cap its spending.
Wyoming submitted its bid for Occidental Petroleum’s 1 million acres of land and 4 million mineral acres July 10. Officials haven’t heard any news, they said this week. One called the silence worrying.
In the second installment of its series examining Wyoming’s sovereign wealth funds, WyoFile digs into the factors that have cost the state billions of dollars in missed returns.
Though widely touted as a successful program, analysis shows the state missed opportunities to make much more money through investment funds.