If Scotland votes on September 18, 2014 to split from England and exist as an independent country, the government would create a sovereign wealth fund from oil and gas revenues, the Scottish government said Tuesday.

Scotland’s oil and gas reserves are worth about $2.4 trillion.

The country has been part of the England for 306 years.

In its blueprint for independence, the Scottish said “This government will make the creation of a Scottish Energy Fund an early priority.”

It also said it would impose a more predictable tax regime for oil and gas exploration and production.

About $35 billion of Scotland’s GDP last year came from oil and gas production.

Over the next thirty years, the Scottish government said, nearly all Britain’s offshore oil production is expected to come from Scottish waters.


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