Iceland stills live off geothermal. At least their economic crash didn’t affect the geothermal. The US has huge amounts of untapped geothermal, we just have to use it.
Posts Tagged ‘Iceland’
Left-Green coalition wins Iceland election
Ms Sigurdardottir [the new PM] told supporters the nation was “settling the score with the neoliberalism” and with the conservative Independence Party who “have been in power for much too long”.
“The people are calling for a change of ethics. That is why they have voted for us,” she said.
Iceland. How to blow up a country.
Michael Lewis on the collapse of Iceland
Iceland’s de facto bankruptcy—its currency (the krona) is kaput, its debt is 850 percent of G.D.P., its people are hoarding food and cash and blowing up their new Range Rovers for the insurance—resulted from a stunning collective madness. What led a tiny fishing nation, population 300,000, to decide, around [...]
Iceland’s government collapses
This comes as no surprise. Their economy is in tatters and protests have been increasing both in numbers and intensity.
At a rally Monday outside Parliament, protester Svginn Rumar Hauksson said demonstrations won’t end yet.
“The protests will continue until it becomes clear that things are really changing,” he said.
Has the Icelandic Revolution begun?
The Iceland Parliament has been stormed, with bonfires set outside it. The siege continues.
“Beware the fury of a patient man.”
The financial collapse of Iceland
The Financial Times has a quite amazing story about Iceland, amazing in that the financial wreckage created by the collapse of their banking system will have repercussions that will last for years.
How bad is it? This bad.
“The huge measures introduced by the US authorities to rescue their banking system represent just under 5 per cent [...]
Financial crisis: Iceland, the Baltics, and Scotland
Stores in Iceland are emptying out and the country only has two weeks of imported food left. How does a small island country buy and have goods shipped to it when no one will accept their currency? Their stock market reopened today, then dropped 77%. Norway just priced shares in the now nationalized banks of [...]
Iceland: What happens when a country goes bankrupt?
Especially when their banks were crazy over-extended in other countries? The government of Iceland has now nationalized all their major banks, their currency is dropping off a cliff, and their stock market has been closed until Monday.
Apparently their banks took a cue from US banks, and went insane on leveraged greed too – but even [...]
Lehman failure craters Iceland bank, maybe their economy too
(Icelandic salted cod. From Flickr.)
The US financial crisis is causing an implosion in Iceland, which is forcing a cascade into the European financial system.
Serious talk of a bank holiday and food hoarding has been heard.
Head of largest oil company says oil imports may cease because of lack of US dollars.
Glitnir, a large bank in Iceland, [...]
Geothermal power. Iceland
Iceland heats 90% of their homes with geothermal energy. 80% of their power comes from hydro with the remainder from geothermal. It’s so cheap that they heat sidewalks in winter with it. While geothermal isn’t completely renewable, it is certainly mostly so, which makes Iceland probably unique in that virtually all its power [...]
