A number of converging circumstances suggest that Antarctica may be a major object of geopolitical attention in South America in the decade to come. The Malvinas/Falklands crisis focused geopolitical attention on the South Atlantic and the chain of Southern (Austral) Islands which link the southern tip of South America to the Antarctic Peninsula. Factors contributing to the strategic and resource potential of this region are: (1) the speculation that there is oil and gas on or near the continent; (2) the great extent of living maritime resources (fish, krill, seals, whales); (3) the Drake Passage, considered an alternate route to the Panama Canal; and (4) the significance of the Antarctic Peninsula for control of South Atlantic sea lanes. Membership in the Antarctic Treaty System has continued to grow, giving more countries a stake in events occurring there. This geopolitical attention could acquire either a confrontational or cooperative tone. It seems likely that the South American nations will play a large role in the events taking place around Antarctic, and there exists possibilities for cooperative efforts in handling the resources of the Antarctic. (SM)