Brewing Crisis in the South Atlantic: Oil Exploration in the Malvinas Islands (tags)
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.