Tension is welling in the South Atlantic—well, in a tiny archipelago about 250 miles off the coast of Argentina, to be precise.

Of course, the current tension over the Falkland Islands is minute compared to what it was in April 1982. It was 29 years ago this week that Argentina’s ruling military government invaded the Falkland Islands and seized control from the British. The taste of victory was fleeting. In his hasty attempt to snatch the Falklands, Argentine President Leopoldo Galtieri underestimated Britain’s commitment to its vital strategic outpost in the South Atlantic.

Within three days, British Prime Minister Margaret Thatcher had dispatched the first battle ships, including two aircraft carriers, to the Falklands. Within weeks, and with near unanimous support from the United Nations, a fleet of 100 ships and 27,000 personnel had crossed 8,000 miles of ocean and was battling to recover the Falklands. From the opening moments of the conflict, Prime Minister Thatcher’s endgame was clear: The strategically vital Falkland archipelago had been sovereign British territory since 1833, and there was no way it would be pried from England’s grasp on her watch.

By June 14, after a resounding display of English resolve, Britain had recovered its prized possession.

Three decades later, and in spite of Britain’s convincing victory in 1982, the Falklands remain a major point of tension between Britain and Argentina. While this week marks the 29th anniversary of the Falklands War, the actions (or lack thereof) in response to this anniversary are a measure of the importance of the Falklands to both Britain and Argentina.

For Argentina, the Falkland Islands—or Islas Malvinas as they’re called in Argentina—remain an issue of vital political and strategic importance. Although Buenos Aires resumed diplomatic relations with Britain in 1992, it continues to ardently oppose British sovereignty over the islands. Just last month, the Argentine Senate unanimously approved a bill created to prevent Argentine companies or people from taking part in exploring for or exploiting hydrocarbons around the waters of the Falkland Islands, South Georgia and the South Sandwich Islands. The bill is merely the latest in what appears to be an infinite arsenal of political, legislative and diplomatic weapons to attack British sovereignty over the Falklands.

Last weekend, in a major public event marking the 29th anniversary of the war, Argentine President Cristina Fernandez de Kirchner stoked the patriotic ambitions of her people to reclaim the island archipelago. The “Malvinas are Argentine forever,” Kirchner told the nation, and the government will “never yield in our claim.” Sooner or later, she promised, Argentina will “recover what belongs to us.”

Argentina’s foreign minister, Hector Timerman, also got in on the anniversary weekend action. He said the Falklands question had become a “regional cause,” and an issue that is serving to unify South American states. Britain has established a “military fortress in the South Atlantic,” he complained, and is a “threat for all the region.”

Perhaps even more telling is the fact that the Kirchner government is actively taking the Falklands issue to the international community, particularly the United Nations. This week, Jorge Argüello, Argentina’s ambassador to the UN, chaired a conference in Thailand on the Falklands dispute. Reporting on the conference, MercoPress noted that it is in “the framework of the diplomatic offensive from the Argentine legation before United Nations ….” Argüello has conducted similar conferences in India, Cuba and Germany, and plans to conduct more in other countries.

Why would Buenos Aires make an effort to school the international community, especially UN member states, in its claim on the Falklands? Could it be laying the diplomatic groundwork in anticipation of another conflict with Britain?

Meanwhile, the response in Britain to the 29th anniversary of the Falklands War has been pretty much non-existent!

This is no exaggeration. Neither Prime Minister David Cameron nor his coalition government, nor even a single member of the Conservative Party, has specifically addressed the Falklands War. Of course, it would be unthinkable in this age of political correctness to celebrate Britain’s victory in 1982. But Downing Street didn’t even speak out on the anniversary to simply affirm Britain’s commitment to the Falklands. The media has been equally silent. Except for a handful of articles in a couple of conservative papers, very little has been written of the anniversary. There hasn’t even been a token article or speech paying homage to the admirable leadership of Lady Thatcher!

Contrast that with the actions of Argentina’s president, who in addition to publicly voicing her commitment to the Falklands last weekend, made it mandatory that all school children read a letter written by a school teacher who volunteered to fight in the Falklands War!

Although Downing Street and Fleet Street appear to have forgotten about the Falklands, bankers and finance gurus in London have not. Two weeks ago, Rockhopper Exploration, a British energy company, announced that it had discovered a significant column of oil in the seabed adjacent to the Falklands. After the announcement, the company’s shares jumped 32 percent. This week, Rockhopper revised its estimates upward for the volume of oil potentially available. It’s too early to tell how much oil lies beneath the seabed around the Falklands, but Western energy companies under the sanction of the British government are investing a great deal of time, money and hardware searching for oil in the Falklands.

Of course, Argentina boils with anger at the possibility of the Falklands becoming an energy source for Britain.

Watch this issue: If Britain sanctions large-scale drilling of oil in the Falklands, it could provoke a dramatic response from Argentina.

If such a moment comes, one wonders how Britain would react should Argentina make a significant play on the Falklands. The archipelago has been a vital strategic asset of Britain’s since the early 19th century, giving the British an important outpost in Drake Passage, the sea-lane that connects the South Atlantic and South Pacific oceans. Prime Minister Thatcher was aware of the strategic and symbolic importance of the Falklands to Britain, which is why she responded with terrific force when they were threatened. Thirty years later, Britain’s commitment to the Falklands has clearly diminished.

Be assured, Argentina sees this—and sooner or later will once again test Britain!

When this test comes, Bible prophecy says Britain will lose control of this strategic asset (Deuteronomy 28:52). If a crisis does erupt, one development to watch for will be the emergence of Europe as a key player in the conflict. While British politicians appear disinterested, their counterparts in Brussels have made it clear that the European Union will have a say in the future of the Falklands. In fact, it wouldn’t be surprising if these islands eventually fall, either directly or indirectly, under the influence of Europe—especially if they emerge as a source for energy!

Whatever happens, keep an eye on the South Atlantic: Britain’s Falklands test is coming!