A special edition of our Guardian Daily podcast today focuses on the search for oil off the Falkland Islands.
On Monday, a small British company called Desire Petroleum started drilling. Geologists say there could be up to 60bn barrels there.
But the exploration has had a disastrous effect on relations between Britain and Argentina, which claims sovereignty over the Falklands. Guardian columnist Simon Jenkins, co-author with Max Hastings of The Battle for the Falklands, says that while Britain's case might be legitimate, it should attempt to resolve the dispute over sovereignty.
Grace Livingstone, author of America's Backyard: The United States and Latin America from the Monroe Doctrine to the War on Terror, says history suggests Britain hasn't always been so confident of its claim over the islands.
Rory Carroll, the Guardian's Latin American correspondent, looks at the diplomatic options for Argentina as it continues to exert international pressure on Britain.
Phyl Rendell, director of mineral resources for the Falkland government, tells us how hopeful she is that commercially viable oil might be discovered, and what that might mean for islanders.
