Future of the Falklands
One future area that many add to the economy of the Falklands Islands is mineral extract. Much of the Falkland Islands and its surrounding waters have not yet been fully explored. However, there has been interest in the possible existence of oil since the 1970s. In 1998, 6 wells were drilled in the North Falkland Basin, 5 of them showed oil. The removal of oil for commercial purposes has not yet happened, but within the next 10 years a major oil industry is likely to develop around the islands, which could impact quite seriously on the local environment.
The Falkland Islands also have small areas of Dairy farming, but this is really for domestic use.
In conclusion, the Falklands Islands, although a British dependency has a clear identity and character. It is environmentally important in terms of wildlife and economically strong in fishing, farming and maybe in the future oil.
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