How does a man in speedos win the Falklands War?

From Iran and Ukraine to the South China Sea and the Falklands, geopolitical tensions are mounting. We explore why defence stocks aren't surging, how governments fund wars, and whether Britain could see the return of war bonds.

1982

More than four decades after Britain went to war to defend the Falkland Islands, tensions with Argentina are once again raising uncomfortable questions. But this time, the dispute isn't simply about sovereignty. Vast oil resources and the prospect of a new energy boom have raised the stakes dramatically. Sam Volkering investigates what could happen next – and why investors should be paying attention.

Ed Miliband goes to war for 1.7 billion barrels

Forty-four years after the Falklands War, tensions between Britain and Argentina are rising again. This time, the prize is oil. With up to 1.7 billion barrels at stake, Argentina is threatening legal action against companies developing the Sea Lion field, while Britain is standing firm. Sam Volkering examines the escalating dispute, Ed Miliband's surprising defence of offshore drilling and the potentially enormous energy resources that could explain why neither side is backing down.