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Airplane Fuel Reserves In Iceland Good, Despite AFP Report Suggesting Otherwise
As reported by RÚV, the likelihood of jet fuel diminishing increases as each day of the Hormuz Strait closure. AFP News claimed that fuel reserves in Iceland, Britain and the Netherlands were limited. In conversation with RÚV, CEO of Skeljungur Þórður Guðjónsson…
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Chamber Of Commerce Encourages Oil Exploration In Dreki Area
The Iceland Chamber of Commerce has encouraged the Icelandic treasury to issue permits for oil research and production in the Dragon Zone (Drekasvæðið), off Iceland’s northeast coast. Oil discovery could have enormous benefits for the population, the Chamber argues. According to a…
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Opinion: Oil Exploration Will Make Iceland Poorer And Less Free
Iceland’s Norwegian dreams are 50 years too late A recent Gallup poll revealed what we’ve long suspected: about half of Icelanders wish they were Norwegian. Specifically, nearly half the population supports resuming oil exploration in Icelandic waters. They’re dreaming of sovereign wealth…
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Several Birds Die Due To Oil Pollution
27 bird carcasses, most of them eider, were found on the beach in Reykjanes on Sunday, May 3rd. The staff of the South Iceland Nature agency went to Stafnes yesterday after receiving reports of many bird carcasses washing ashore. Of the 27…
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Oil And Gas Deposits In “Dragon Area” To Be Clearer Next Spring
A better idea of what kind of oil and gas deposits lie in the so-called “Dragon Area” will be clearer this coming spring. Heiðar Guðjónsson, the managing director of Eykon Energy, told RÚV that exploration of the patch of sea in the…
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Progressive Party Excited About Climate Change, Oil Exploration
At their recent national convention, the Progressive Party agreed to make climate change, oil exploration and immigration part of their new platform, reports Vísir. “With the advancement of climate change exciting new opportunities are being created,” reads the Progressive Party’s new resolution…
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Here Be Sleeping Dragons
In her article “Here be Dragons,” Anna Manning attempts a “summary of debates surrounding oil exploration to the north of Iceland.” She fails—and that’s a problem. In this response we try to set the record straight with regards to two fundamental misunderstandings.…
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Why They Think There Is Something Worth Finding In Drekasvæðið
Anyone at all interested in oil exploration in Iceland is probably familiar with some of the more controversial topics such as environmental repercussions and the private companies involved. While it is clear from the news coverage that there has been activity in…
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Here Be Dragons
In the late 1960s and early 1970s, French and American geologists conducted surveys in the Norwegian Sea and discovered the Jan Mayen Microcontinent about 1,000 metres below sea level. It is a fragment left over from when the borders of Norway and…
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Here’s What You Need to Know About Dropping Oil Prices and Drekasvæðið
Lately it seems that people are getting more and more concerned about the dropping price of oil. This is perhaps less obvious to those of us buying petrol in Iceland, but some Icelanders are questioning whether the search for oil in Drekasvæðið…
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Fuel Prices Drop Less In Iceland Than Globally
On Thursday, sociology professor Stefán Ólafsson noted on his blog that while oil prices have dropped by 50% on global markets, prices in Iceland have only decreased by 20%. “Icelandic oil companies have in other words held a decent share of the…
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Oil Exploration Continues Despite Drastic Price Drop
On Sunday, Vísir reports that oil exploration in the Arctic Ocean, more precisely in the so-called Dragon Area, close to Jan Mayen, will continue, regardless of a recent drastic drop in oil prices. This is in accordance with the company’s statement in…
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The Endless Bubble Of Overblown Expectations
In the spring of 2007, when the Icelandic financial bubble was reaching its peak, the Ministry of Industry held a press conference to announce it intended to undertake an environmental impact assessment of oil exploration off the coast of Northeast Iceland, near…