Much in the same way that analysts predict that the abundant supply of natural gas in the U.S. will eventually lead to higher domestic natural gas prices because gas companies will export their resource to fetch a greater price than they can get for it if they keep it for domestic use, Iceland is grappling with what to do with all of its abundant geothermal energy.
And many Icelanders feel that export is not the answer. Instead, the country hopes to attract large energy end-users to the country so they can benefit from the cheap, 100 percent green power that Iceland provides. “We already do export the power,” said Invest in Iceland Director, Thordur Hilmarsson, “We export it through the products that are created by energy-dependent industries.” For now, those products include aluminum from Alcoa, Fish from Stolt Sea Farm and silicon metal from Globe Specialty Metals, but if Hilmarsson and his compatriots have their way, some day soon that will be a lot more products.
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