Will the UK government back down over Falklands oil fields?
The political climate regarding the Falklands has changed somewhat over the last couple of weeks with the Argentinian government making yet another attempt to claim the island and its surrounding waters. While at this point in time it is unlikely there will be any military action between Argentina and the UK there is no doubt that relations are now at a record low. So will the UK government be prepared to negotiate the potential oilfields around the Falklands?
Argentina has taken its argument to the United Nations and has the backing of a number of South American countries and political associations. Pressure is mounting on the UK to at least agree to sit around the negotiating table although this would be a very damaging move for the UK government in the eyes of the UK electorate. It will be interesting to see whether any major countries come to the rescue of the UK as the Obama regime has already confirmed it will take "no position" in this particular argument.
There is potentially millions if not billions of pounds of oil ready to be extracted from the waters around the Falklands. Whether the UK government would be able to claim all of this income and all of the potential oilfields remains to be seen.
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