Botox Bandit still barking up the wrong tree

President Cristina Elisabet Fernández de Kirchner  has got her priorities all mixed up, still bleating on about the Falklands while her country is still having trouble paying its bills. Despite the fact that no Falkland islanders want the island to be handed over and governed by a financially fucked country, de Kirchner is continuing her campaign to get the islands back:

President Kirchner opened Argentina’s Congress with a three-hour speech describing her government’s “victorious decade” in power and defending her management at a time of falling confidence in Argentina’s economy.
She urged the United Kingdom to engage in negotiations about the sovereignty of the Falkland Islands, or Las Malvinas, as they are known in Spanish.
“We do not ask that you (the UK) say we are right, just sit and talk with us,” she said.
Nearly 2,800 Falkland islanders are expected to vote overwhelmingly in favour of maintaining their status as a British Overseas Territory in a referendum next Sunday.
Héctor Timerman, the Argentine foreign minister, has called the vote “illegal”. The Kirchner administration claims the islanders are “implanted” and ousted an Argentine population in 1833. -source telegraph.co.uk

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But then maybe she isn’t barking up the wrong tree, and it’s all part of her plan for economic recovery and alot more than just wanting to “just sit and talk with us”:

Press reports say up to 8.3 billion barrels of undersea oil reserves could lie in the Falklands economic zone — a radius of 320-kilometers around the islands, but despite successful drilling, this quantity is still speculative.

The figures are backed by claims from small oil ventures, including Rockhopper and Borders & Southern Petroleum, which are hoping to raise capital for further exploration in fields licensed by the islands’ British-backed government.

Attempts to attract investment in the projects has been hampered by the Anglo-Argentinian dispute. Many major oil firms have interests in Argentina and are wary of upsetting Buenos Aires by involving themselves in the Falklands.

Also a problem is the considerable cost of extracting deep water reserves from the remote South Atlantic.

Professor Alex Kemp, a petroleum economics expert at the University of Aberdeen, described the Falklands oil reserve estimates as “optimistic,” adding that even if they are proven, the cost of exploiting them could still be prohibitive.

“It’s one thing doing exploration, but when you come to development, we’re talking about bigger volumes of materials and to get that there is expensive because at the moment there’s nothing there — just sheep farmers,” he said.

“It will take a few 100 million barrels to make it worth it, and there’s a number of ifs and buts before we get there.” - source CNN

One things for sure, even with the UK’s depleted forces after cutbacks in 2012, Argentina’s own outdated and depleted forces would still be no match for the Brits, so that will never happen. Just like nothing will happen after Falkland Islands referendum vote on March 10-11.

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