LC oscillator low voltage LED driver

Introduction

In Where did i go wrong !?  item "30) Ring oscillator runs at a surprisingly low frequency", the "Miller effect" was the hidden factor that made a ring oscillator oscillate at an unexpected low frequency.
In the following circuit, you find a low voltage LC oscillator, that works with fewer components than usual, because it makes use of the "Miller effect" to add an extra phase shift to maintain stable oscillation with only 1x inductor (L2) and 1x capacitor (C1).
Extra bonus:
By adding a second inductor (L1), this oscillator can be converted to a LED (D1) driver operating from a supply voltage as low as 1V (or 1V5 of a single AA cell). 

Circuit

In fact, it is a Clapp oscillator with a boost converter added to it. The Clapp oscillator uses the Miller effect, causing a virtual large capacitance at the base of the transistor This Miller capacitance at the base = (1 + voltage gain) * collector-base capacitance.
L1 uses the oscillating transistor as a switch to boost up the voltage for the LED.
Very nice little circuit!