# Britain Finally Creates an Oil Wealth Fund—50 Years Too Late

- Source: OilPrice.com
- Published: 2026-10-22T16:00:00+00:00
- Category: Markets
- Original: https://oilprice.com/Energy/Energy-General/Britain-Finally-Creates-an-Oil-Wealth-Fund50-Years-Too-Late.html
- Canonical: https://groundlevelnews.com/story/britain-finally-creates-an-oil-wealth-fund-50-years-too-late-78cd44/

The United Kingdom has finally established an oil-backed investment fund, decades after neighboring Norway began transforming its North Sea petroleum revenues into one of the world's largest sovereign wealth funds. The British government's new £2 billion Energy Wealth Fund, announced Wednesday alongside approval of the Jackdaw gas field, will channel North Sea oil and gas tax revenues into renewab

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