Falklands oil disappointment for UK company

http://www.cnn.com/2010/WORLD/americas/03/29/falklands.oil.rig/index.html

The value of shares in a British company drilling for oil off the Falkand islands halved Monday, after it revealed the existing supply may not be commercially viable. Potential revenues from oil and gas reignited a long-running dispute between London and Buenos Aires over ownership of the Falklands. The Falklands, known as Las Malvinas in Argentina, lie in the South Atlantic Ocean off the Argentinean coast and have been under British rule since 1833. The island's government, representing a population of around 2,500, remains committed to British sovereignty and the UK maintains a military presence on the islands.

According to Ha-Joon Chang, certain aspects of this situation would be examples of the "Bad Samaritans" at work. Britain, still wielding somewhat of a colonial control over Las Malvinas is hesitant to give up control to Venezuela, especially when it comes to natural resources such as oil. The Argentinean position is that the area's natural resources should be protected; therefore, Britain must accept international resolutions labeling the Falklands as a disputed territory. We see the international community acting for good in this instance. While Britain is undoubtedly trying to take advantage of the area's resources, the international community has placed sanctions on their control. This only goes to prove that international politics can be used for good rather than always manipulated by the "Bad Samaritans."