Britain set for Falklands Islands oil windfall

World | 206600 hits | Feb 16 2:38 pm | Posted by: Strutz

Britain will share in a Falkland Islands windfall when oil starts flowing there later this decade and, with taxes and royalties estimated at up to $167-billion, the potential prize could inflame mounting tensions with Argentina over sovereignty.

Comments

by martin14
Fri Feb 17, 2012 12:59 am
The estimate of $167-billion compares with total tax revenue in Argentina of around $125-billion last year.

That'll be enough for the Argies to go to war again.

Should be enough money to pay for a couple of divisions though.
And a few missiles.
by GreenTiger
Fri Feb 17, 2012 4:12 pm
Unless the Falkland Islanders start wanting to speak Spanish the first purchases with that money should be some real heavy military assets.
by bootlegga
Fri Feb 17, 2012 4:16 pm
The UK already has strong assets in the area - far more than enough to deal with Argentina's obsolete armed forces.
by BartSimpson
Fri Feb 17, 2012 8:34 pm
"bootlegga" said
The UK already has strong assets in the area - far more than enough to deal with Argentina's obsolete armed forces.

I was out the last two days at a conference in San Diego and one of the folks attending was an Argentine FAA character who asserts that the UK will be "overwhelmed" by what the Argentines are planning to do next time. He also seemed to be far more obsessed with the fishing rights around the islands than he was with the matter of oil. If I'm reading this correctly, I'd anticipate that the Argentines plan on preventing any successful exploitation of the oil resources around the islands.

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