This looks like it could be fun. They're going to start drilling for oil in the Falkland Islands: http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2008/03/09/wfalk109.xml
I'm actually really psyched for the islanders. The reserves are estimated at about 60 billion barrels, about the same size as the North Sea reserves. This is the kind of thing that sets a country up for generations. Look what it did for the Gulf States. And, bonus, the Falklanders like us and share our culture. They're precious, too. The first thing they plan to do with the money is fix up the (two) schools and the hospital, of course. Then they think maybe they'll build a movie house and a bowling alley. Oh, stop it.
It's also fun for the rest of us. Not only do we get to taunt the dirt worshippers who want us to think we're running out of the stuff, but we're about to witness a fine piece of geopolitical slap fighting. See, the Argentinians see Las Islas Malvinas -- and the oil -- as theirs, and they're all in a bunch because they say England went back on a promise to include them in the oil exploration process. The word "intransigence" has been used, the diplomatic equivalent of the sudden stop of the jungle drums. This could escalate to war. Or a crappy bass solo. Can you picture another Falklands War, only with Gordon Brown and Cristina Fernández de Kirchner running it instead of Leopoldo Galtieri and Margaret Thatcher? Come to think of it, it might be a closer contest this go-round, if it happens.
I wonder what the lefties would do when faced with an actual War For Oil? Probably ignore it because it doesn't have an easily-cast Bad Guy. It's not America or Israel, after all. Plus it's on some frozen little rock at the bottom of the earth, and you know how protesters feel about bad weather.