For Argentineans the long simmering territorial dispute between Britain and Argentina is coming to a head, as a British oil rig travels to what analysts say is a 60 billion barrel reserve of high-grade oil located in a 200 square mile zone surrounding the Malvinas (Falkland) Islands. This would make it one of the largest oil reserves in the world. Argentina had instituted a naval embargo of the islands but has recently permitted the oil rig to land in Port Stanley, capital of the island.
The delivery and installation of the oil rig will substantially alter the fundamental economic character of the disputed islands from fishing and sheep-raising to the exploitation of one of the world’s most sought after commodities: petroleum. The exploitative economic character Britain is unilaterally imposing exacerbates the national tensions between Argentina and Britain. This conflict has brought the relationship between the two countries to their sharpest point since the 1982 war over the Islands.
This article continues at length here: