Despite its recent economic harshness, Iceland is rich as it is located on one of the world’s best geothermal hot spots. The potential is so large they are thinking about exporting electricity to neighboring European nations. As Ecogeek noted:
“Iceland’s biggest utility, Landsvirkjun, has announced a plan to build the world’s longest undersea cable at 1,180 miles long to carry up to five billion kWh of electricity a year to European countries – enough to power 1.25 million homes”
This looks a lot but with over 500 million people in the EU, Iceland would provide only one or two percent of the total electricity needed by the European Union. Anyway, this still would be much better than coal…