The Jackdaw gas platform and drilling rig in the North Sea.
After a half-century wait, the United Kingdom now has an oil fund.
Chancellor John Healey announced the creation of an Energy Wealth Fund at the Jackdaw gas approval announcement on Wednesday, with £2bn of funding diverted from the existing National Wealth Fund.
A selection of energy exporting countries, mainly in the Gulf, but also including Norway, over the years have amassed multi-trillion funds using oil and gas revenues to create epic national piggy banks.
It has been a long-standing debate in UK economic policy circles. If neighbouring Norway has amassed a $2.4tn war chest from the same North Sea, where exactly did the UK's sovereign wealth fund go?