Does Britain understand where Javier Milei’s move on the Falklands is heading? It is becoming clearer that, behind the nationalist bluster, he sees a real energy opportunity, and, from Argentina’s point of view, a threat. Milei argues that if drilling proceeded, as the Falklanders want, Britain would be able to seize offshore Argentine oil resources. This allows him to present the issue as one of national security on which his country needs to act. The British government line is low-key: the matter ‘is decided by the Falkland Islands people’ and the government ‘is absolutely supportive of the decision’. But is it aware of the degree of its responsibility? It is true that the islanders are entitled to decide whether they want to license exploration and production, but the ultimate decision is not theirs. The process is set out in the Offshore Minerals Ordinance 1994. This states that the Governor of the Falklands may grant an offshore licence only ‘with the consent of the Secretary of State’. The relevant secretary is, explicitly, the Foreign Secretary. All variations of the licence must also be made only with the same consent. Our Foreign Secretary is now Ed Miliband. So the time is fast approaching when the man who, as energy secretary, stoutly resisted new oil and gas production in the North Sea, and planned to ban it through the forthcoming Energy Independence Bill, will be asked to say ‘Drill, baby, drill’ in completely new fields in the South Atlantic. If he refuses, he will deprive the Falklands Islands (and, by loose extension, Britain) of great future prosperity and will have given in to a right-wing Argentine bully. If he consents, he will be defending the principle of new, large-scale fossil fuel extraction and confronting not only Argentina but also US strategic and energy interests as loudly articulated by Donald Trump. The potential for both comedy and tragedy here is large.