Offshore Oil Drilling In South Atlantic Could Lead To North Sea-Style Boom -- the Telegraph
It's not just a bunch of windswept rocks and sheep – there's oil in the Falklands, enough perhaps for a real boom that could generate billions of pounds.
Some was found in the 1990s, but what has really got the oil industry excited is Sealion, a "discovery" which geologists think is about the size of decent North Sea oilfield. Other finds nearby in the North Basin, about 70 miles north of the islands, are also promising.
And then there is the South Basin, which has never been drilled. It is big, and the geological structures look good. A drilling ship is en route from Aberdeen to start a proper search.
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My Comment: The prospect of billions of barrels of oil .... trillions in dollars .... is making the Falklands noticed by everyone .... especially by Argentina who needs an economic boost and monies to cover it's debts.
2 comments:
Stories about Falklands oil fields already popped up in '82 and were used to justify the war effort in the UK.
To date, there's -30 years later- still no real oil industry in the area.
Such a coincidence, the Falklands conflict has been pushed a lot both in Argentina (to distract from economic problems?) and in the UK (to fight the military budget cuts, especially in regard to naval aviation?).
Thank you SO for your comment. I know about the oil speculations of the 1980s .... the same was said about Canada's oil sands during this period of time. What has changed has been the price of oil and the economics behind it. When oil was at below $10 a barrel .... it made no sense to drill offshore or to do a tar sands project. But oil at $100/barrel .... now that opens a lot of possibilities.
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