Recap: Krystle sweeps down the main staircase in a silky blue negligee/robe ensemble and into the dining room, where Fallon is finishing up her breakfast. The two briefly chat about Little Blake's second birthday party, a momentous occasion that will take place on the Carrington estate this afternoon. Fallon then heads over to the nearest phone to call her doctor to make an appointment to get her head checked asap.
Jeff bursts into Blake's office to tell him he needs help handling the many calls he's been getting regarding the South China Sea leases 'cause apparently every oil company is super excited by the potential of drilling in the Far East and wants in. A gleeful Blake says he's not quite ready to do any deal-making yet, then announces that he's off to San Francisco to look over his latest over-the-top, superfluous purchase: a survey ship outfitted with deep sea sonar equipment. A few seconds later, Adam enters the office clutching a geological map of the South China Sea and tells Blake he has suggestions regarding where they should start drilling. Blake happily chirps, "Let's just do it!" and Adam excitedly replies that it's soooo heady being part of something so UGE.
Krystle flounces into her PR office and finds Tracy in the process of returning various reports that she had borrowed for the Hong Kong press conference. Krystle snarks that she got what she deserved when Blake fired her after ickily trying to seduce him, and Tracy counter-snarks that she was merely following in her (Krystle's) footsteps: stroking her goat daddy of a boss's ego in the hopes that one day she'll become his trophy wife and live a life of extravagant leisure. Krystle reacts by smacking her hard in the face (!) and haughtily snaps, "The game is over!" - but Tracy argues that the game isn't over so much as it's on a time out.
Fallon is at the doctor's having her eyes examined. The doctor tells her that her reflexes are normal and suggests that her chronic headaches are the result of tension. When Fallon argues that she hasn't been tense lately, he agrees to schedule a brain scan.
Blake arrives at the private airstrip to depart for San Francisco and, by scripted coincidence, spots Alexis returning from Hong Kong. He ambles over to say hello and politely asks how her trip to the Far East went. She tells him it was faaaaaabulous, and flashes the large diamond ring she's wearing and breezily adds that she bought many lovely things while on her exotic "shopping spree". She tells him she happened to catch his press conference with Rashid Ahmed - aka the secret lover she definitely didn't hit the sheets with while in Hong Kong - and Blake thanks her for introducing them and wryly says he's pretty much willing to do business with any low-life douchebag if it'll provide him with access to vast amounts of oil. He dickishly taunts her about how Denver Carrington will soon be the number one oil company in the universe, then saunters off to board his plane. Mark makes a smirkish remark to Alexis about the way she fibbed just now about not being in contact with Rashid Ahmed during her trip, and she chides him for eavesdropping and bitchily orders him to transport her luggage to the penthouse pronto.
Upon arrival at ColbyCo, Alexis is informed by her newest hot male receptionist that Morgan Hess was detained by the police...news she shrugs at disinterestedly 'cause clearly she doesn't give a rat's ass about the problems of her former PI. She finds Steven in her office placing a bouquet of roses on her side table, and he eagerly asks her how many oil leases she was able to secure while in Hong Kong. She grimly says she never had a chance 'cause Blake has them all tied up...and Steven whines yet again about how upset he is that he did so much of the legwork on the South China Sea report, which Adam promptly stole for the purpose of benefiting Denver Carrington. He tells his mother how puzzled he is that she's not putting up any kind of fight about the oil leases, but she just cooingly urges him to reconcile with Blake, them being father and son and all. Steven says he's pleasantly surprised by her uncharacteristically kind disposition towards Blake, then kisses her goodbye and saunters out. Alexis then goes through her stack of mail and finds a telegram that reads: Explosion tomorrow, Rashid Ahmed. Subtle, Rashid. She smiles evilly and murmurs, "A thousand blessings on your head."
Over at the mansion, Adam is barking at someone on the phone to get him enlarged maps of the South China Sea. Steven overhears him, calls him a common thief, and bitches at him for enjoying the fruits of others' labors. OMFG, get over the boring loss of your South China Sea research paper already, ya dullard.
Steven heads over to the mansion's wood paneled workout room, where Jeff is exercising his upper body. The two chat about Little Blake's party, then reminisce about birthdays past. Ho hum. Adam suddenly bursts into the room to continue his conversation with Steven - but when he sees that Jeff is there, he abruptly halts the conversation and mumbles, "We'll settle the matter later."
Later, Adam enters Jeff's office to show off his newly enlarged South China Sea maps. Jeff asks him whassup with the weird vibe between him and Steven in the workout room earlier, so Adam explains that Steven keeps accusing him, ad fucking nauseam, of stealing his research for the South China Sea report. He claims it's not true, then wanks Jeff by telling him he stands to make a fortune as a result of Blake's genius deal-making.
Blake summons Kirby to his office for an elaborate fish lunch. He tells her he got a call from Lieutenant Taylor, aka the cop who allowed her to read her father's suicide note. He chides her for going down that path and says that Joseph's dying wish was for her to never know anything about what was in that note, then urges her to find a way to forgive Alexis for the terrible things she's said and done...her being Adam's mother and all. Kirby pretends to be willing to consider that - but in the next scene, she makes a beeline over to the nearest pay phone in the lobby to call the gun range and book her first training session on how to pump lead into those who have done her wrong.
Alexis is lounging about her penthouse, watching TV and munching on raw broccoli and dip. Mark tells her she looks as though she has the inside scoop on some big news that's about to break - but she just shoots him a withering stare and tells him to take his Bloody Mary drink and get lost. As he slinks off to his hovel with his shriveled set of balls, Dex enters the penthouse with his cheek still scratched up from their Hong Kong rumble. Alexis groans at the sight of her cuckolded ex-lover and says it's too late for him to apologize - and he sneeringly retorts that if he were here about an apology, it would be to get one from her. She glares at him and snaps, "Goodbye, Dex" - but he reminds her that as business partners of the Lex-Dex Corporation, they have a lot of stuff to work out. Alexis rolls her eyes and says she'd be happy to buy him out...and he retorts by tossing his penthouse key into her bowl of dip. Very mature, Dex. He informs her that Tracy Kendall was just fired by Blake and that she's bitter, unemployed, and likely willing to share useful intel about Denver Carrington. Alexis remarks that Tracy is an attractive lady and suggests that Dex hire her for his own purposes - but he pretends to not be remotely interested in tapping that and stalks out of the penthouse.
Over at Carrington Manor, Fallon is watching Jeff transform himself from resident Dynasty hunk into a clown in preparation for Little Blake's party. When the phone rings, Fallon quickly snatches up the receiver (no doubt 'cause she's anxiously expecting a call from her doctor), but it's just Alexis, asking when the party starts. Jeff asks her whassup with her visible nervousness, but she breezily assures him she's fine.
Party time! Little Blake's party is in full swing with a juggler, pony rides, a carousel, and a bored looking mermaid who's lounging beside the swimming pool. Interesting choice. I wonder who thought a live mermaid would fit into a carnival themed child's birthday party?? Blake schmaltzily tells Krystle that when their spawn turns two, they'll have an even grander party than this.
Alexis makes her grand entrance to the party decked out in a flowy lavender dress and a matching wide-brimmed hat. When Blake ambles over to greet her, she coos about how eager she is to buy some oil leases in the South China Sea, and he promises to make a deal with her if the offer is good. She credits him for being a fair man, and reminds him that they'll always be connected through their children and grandchildren...and Blake grunts something unintelligible before wandering off.
Kirby runs into Jeff, who's now a full-on clown, and the two exchange some light-hearted banter about what a dashing clown he is. From a few feet away, Adam glares at them with his pointy face scrunched in disapproval...and when Jeff wanders off to entertain a small group of children, an irked Adam tells Kirby he'd like to have a discussion right this minute about what their future child would inherit. When Kirby gives him a weird look and is all, "Huh??" he makes it clear how annoyed he is about her friendly disposition towards Jeff, then bitchily storms off. Kirby runs into Alexis and asks her if the Paris job offer is still on the table, and Alexis says it is, then reminds her that when the offer had been made, she'd turned it down flat. Kirby agrees that, yep, that had been her initial reaction...but that she's much more open to it now that the Dynasty writers have gotten so bored with her character that they declined to renew her contract for Season 5.
As the party wears on, the toddler guests seem to be having fun with all the games and pony rides. Blake proudly tells Krystle he bought a survey ship he wants to re-christen Krystle before they set sail aboard it next week, and Krystle pretends to look thrilled by the odd gift and gives him a happy hug. Claudia, meanwhile, is happily posing for photographs with Alexis while Steven snaps away. Steven says he's thrilled that his wife-beard and mother appear to be getting along and now feels bad about suspecting Alexis of sending Claudia violets and making those weird Matthew calls.
Fallon calls her doctor, who tells her that the test results indicate she has a healthy brain, and just enough brain cells to rub together. She looks visibly relieved and thanks him - just as Jeff enters the room and grumbles about how he's fucking done being a birthday party clown.
Alexis enters the kitchen and criticizes the staff for their choices of party snacks. Krystle overhears her and nicely asks one of the servants to prepare a plate of caviar for Alexis...then pulls Alexis aside and admonishes her for ordering her staff around. She then makes it a point to decline a glass of champagne and smugly tells Alexis she's giving up alcohol for the next nine months, and Alexis makes an ew face and correctly guesses that she's carrying Blake's spawn. When Krystle reminds her that she was responsible for her losing her first child and isn't about to let her anywhere near this one, Alexis rolls her eyes and snidely retorts, "Stop playing Mother Earth, Krystle. When you’ve given birth to four then you can crow." Krystle scrunches her face confusedly as she mentally counts Alexis' offspring and goes, "Four? What are you talking about?" ... and Alexis pretends she was mistaken about the number of children she's delivered 'cause she accidentally added in a faux miscarriage.
Upstairs in the nursery, Jeff presents Fallon with a ginormous sapphire ring and tells her it once belonged to Grandmother Colby. Fallon oohs at its beauty and puts it on her ring finger...and when Jeff asks when the wedding is, she replies, "Whenever you say." The two smooch while Little Blake coos happily from his crib.
Alexis arrives at her penthouse and gets a call from Morgan Hess, who's in the lobby of her building and insists on talking to her.
Kirby is at the gun range, getting her first shooting lesson. The instructor gives her tips on how to properly squeeze the trigger...and when he suggests she imagine that the paper target is a person who's done her harm, she pictures Alexis bitchily telling her she's not fit to mix with rich people like the Carringtons. She pulls the trigger multiple times, and the impressed instructor says she shot her target right through the heart.
Morgan Hess thanks Alexis for bailing him out of jail and arranging for a lawyer, but says he's worried that he could still get his PI license suspended. Alexis tells him she couldn't give the tiniest of rat's asses 'bout that and accuses him of attempting to frame her for the gaslighting plot against Claudia. Hess gets angry and threatens to tell Steven it was all her idea, but she argues that Steven wouldn't believe him and that he should pack up his threats and leave. When he begs her to pleeeeease help him retain his license, she mocks his fugly plaid jacket and he angrily retorts, "Someday someone will get you good!" She snaps, "Goodbye!" and reminds him she's still alive and kicking, despite the two murder attempts that we know about.
Over in the library at Carrington manor, Blake and Krystle are all gussied up 'cause apparently Fallon had requested that everyone show up for dinner in black tie. Seems weird to dress up so elaborately in one's own home, but then I've never been a mansion dweller. Steven and Claudia arrive, along with Adam...and when he asks if anyone's seen Kirby lately, they all just stare back at him blankly and tell him they have no idea where she could be. When Fallon and Jeff make their entrance, Fallon flashes her ginormous ring and excitedly announces that she and Jeff are getting married. Again. Everyone's all, "Awww!" and Steven offers the happy couple a toast.
Senior Manservant Gerard slips into the library to inform Blake that Andy just phoned to tell him to turn on the TV asap. The Carringtons then gather around the television set, where the news anchor is talking about how Blake Carrington got himself involved in what is now unfolding as an international incident. Apparently, Rashid Ahmed is now claiming - without a shred of proof, I can only assume - that the $100 million that Blake paid to secure oil leases was actually for the purpose of buying arms for one government to use against a rival government...and I wonder why the show didn't at least make up names of fake countries in order to reduce confusion. The faux conflict has resulted in a counter reaction from various other unnamed countries - LOL - and naval forces have moved into the South China Sea to prevent a full-scale war, which means there can be no oil exploration by Denver Carrington or any affiliated oil companies. The news anchor wonders what this will mean for Blake, a self touted genius of a business man. An enraged Blake starts railing about how he's a scapegoat who got tricked by that sneaky Rashid Ahmed, then announces that he's off to his office to deal with this crisis...and I guess that's that for Fallon's engagement party.
The press is waiting at Denver Carrington 'cause apparently they had nothing better to do at this time of night but to wait around the lobby in the hopes that Blake would show up...and the reporters simultaneously shout questions at Blake as he and Krystle shove through the crowd to get to the elevator. Krystle promises to arrange a press conference as soon as they have more information, while Jeff starts working the phones. When Adam enters the room, Blake tells him they both need to fly to Hong Kong tomorrow to straighten out this contrived mess, then wonders aloud why Ahmed would double-cross him this way, especially after he received such a huge commission. He recalls that Alexis told him earlier that she hadn't seen Ahmed while she was in Hong Kong, but quickly suspects that she was lying and is somehow behind all this.
Alexis, meanwhile, is enjoying a luxurious bubble bath in her penthouse while talking on the phone with Ahmed. She giggles about their successful plot in bringing Blake down, then tells him to enjoy his next move.