Iceland produces 100% of its electricity through renewable resources. Sure, not all of us are sitting on top of a geothermal hotspot, but every nation has its own abundant resources.
BTW, Icelanders did not bail out their bankers who had overleveraged their balance sheets and had, as Paul Krugman wrote, "in effect hijacked (the country) by a combination of free-market ideology and crony capitalism.....the benefits of the financial bubble went overwhelmingly to a small minority at the top of the income distribution." Well, the top bankers were arrested and sentenced to jail, while the banks were broken up and capital controls put in place. Lo and behold, Iceland's economy is on the mend.
You decide whether there is a connection between energy and economy, or whether it's merely a coincidence.
http://reneweconomy.com.au/2012/iceland-a-100-renewables-example-in-the-modern-era-56428?utm_source=rss&utm_medium=rss&utm_campaign=iceland-a-100-renewables-example-in-the-modern-era-56428 http://krugman.blogs.nytimes.com/2010/06/30/the-icelandic-post-crisis-miracle/ http://www.washingtonsblog.com/2011/11/key-lesson-from-iceland-crisis-let-banks-fail.html http://www.nytimes.com/2012/07/08/world/europe/icelands-economy-is-mending-amid-europes-malaise.html Image credit: Earth - The Operator's Manual
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