Islandia II

Benefitz Betty's picture

In the Land of no Show :  "Iceland's anti-establishment Pirate Party has been asked by the president to try to form a new government, following October's snap elections. President Gudni Johannesson made the announcement after talks with Pirates head Birgitta Jonsdottir. The Pirates, who vowed radical reforms, came third in the elections in which no party won an outright majority. Two earlier rounds of coalition talks involving first the Independence Party and then the Left-Greens failed.

"Earlier today, I met the leaders of all parties and asked their opinion on who should lead those talks. After that I summoned Birgitta Jonsdottir and handed her the mandate," President Johannesson said on Friday. Ms Jonsdottir said afterwards she was "optimistic that we will find a way to work together".

In the elections, the Pirate Party - which was founded in 2012 - more than tripled its seats to 10 in the 63-member parliament.

The Pirates want more political transparency and accountability, free health care, closing tax loopholes and more protection of citizens' data.  Opponents, however, say the Pirate Party's lack of political experience could scare off investors and destabilise Iceland's recovering economy."

Here's somein Q dug out earlier:   "

"Mr. Glassman states that the Icelandic Parliament has passed legislation ordering the “conversion [of offshore krona] at between 190 and 210 krona to the dollar.” Parliament has done no such thing. The Central Bank of Iceland has announced that it will auction some of its foreign-exchange reserves to repurchase offshore krona for those holders who wish to exit their investments at this stage. Participation in the auction (the 22nd in a series of such auctions, by the way) is wholly voluntary. The bidders will decide what exchange rate they wish to bid and the Central Bank will decide what bids it can afford to accept....

There is one, but only one, similarity between Argentina and Iceland. Following the economic collapse in each country, a few hedge funds acquired distressed local assets for pennies on the dollar. If disappointed in the amount of profit they can turn on those trades, articles by hedge-fund lobbyists are sure to follow.

Bjarni Benediktsson"

"The central bank on Thursday offered part of its foreign currency reserves in an auction to exchange $2.4 billion of mostly kronur-denominated Glacier bonds held by Loomis Sayles, Eaton Vance Management and hedge funds including Autonomy Capital. They were asked accept euros at a rate of as much as 50 percent below the official rate. The auction ran from 10 a.m. to 2 p.m. local time.

The offers will now be reviewed “over the days to come,” the central bank said in a statement Thursday. Results will be published no later than June 22."

And Iceland now belongs to?

Subtle? Oh OK, release the Kraken ...

Hmmm ....

Whats in a name,   Iceland?  a quick flick to Landnamabok:   via Bede ;-)

Concurrently :-

"Britain should build a new capital city in the middle or north the country to combat the north-south divide, the government has been told.

Lib Dem peer Lord Greaves said on Tuesday that London should be stripped of its status as it was making the economy “unbalanced”.

And Lord West of Spithead, the former head of the Royal Navy, said parliament should be placed on a ship and sailed around the country.

Lord Greaves told the House of Lords today it would be a good idea that “a wholly new capital city is built somewhere near the geographical centre of the country in the midlands or the north."

Thing is, how far North? Where is the North? Is it worth sacking ...  and has it been done before?

Anyhoos, some say  Rome wasn't built in a day ...

"Iceland’s president has invited the anti-establishment Pirate party to form a government, after the right- and leftwing parties failed in their bids. Guðni Jóhannesson made the announcement on Friday after meeting with the head of the Pirate’s parliamentary group, Birgitta Jónsdóttir. “I met with the leaders of all parties and asked their opinion on who should lead those talks. After that I summoned Birgitta Jónsdóttir and handed her the mandate,” he said...

"they failed to find common ground on issues including relations with the EU, institutional reform and fishing.  The president then called on the Left-Green Movement, the second-biggest party, to form a government. Despite holding talks to build a five-party coalition from the centre-right to the far-left, disagreements over taxes and other issues led the negotiations to collapse in late November. The president then allowed the parties to hold informal talks, which led the Independence party and the Left-Green Movement to discuss terms for sharing power. But the diametrically opposed parties could not find enough common ground.Giving the Pirate party, which came third in the election, the chance to build a government has been seen as a bold move that is not guaranteed to be a success.

“I am optimistic that we will find a way to work together,” Jónsdóttir said."

Tetonic? Fast pedals ...

Frisland Myth?

Plate smashing ...  mebbe if ignored it will go away ... Elves.





Captain Black's picture

Borehole Crackers

"Geologists say they are close to creating the hottest borehole in the world.

They are drilling into the heart of a volcano in the south-west of Iceland.

They have told the BBC that they should reach 5km down, where temperatures are expected to exceed 500C (932F), in the next couple of weeks.

The researchers want to bring steam from the deep well back up to the surface to provide an important source of energy.

"We hope that this will open new doors for the geothermal industry globally to step into an era of more production," said Asgeir Margeirsson, CEO of the Iceland Deep Drilling Project (IDDP), a collaboration between scientists, industry and the Icelandic government.

"That’s the aim - that’s the hope. We have never been this deep before, we have never been into rock this hot before, but we are optimistic."

The project is located on the Reykjanes peninsula, where a volcano last erupted 700 years ago.

A huge rig stands out against the black lava fields; inside a drill has been operating for 24 hours a day since August.

It has now descended nearly 4,500m, and the team expects it to hit its target depth of 5km by the end of the year.

Gudmundur Omar Fridleifsson, from Icelandic energy company HS Orka, is the project's chief geologist.

He shows me thin cores of black basalt rock that have been collected from deep beneath the ground.

"It’s getting hotter - and that's what we want," he said.

"We don’t expect to drill into magma, but we are drilling into hot rock. And by hot rock, we mean 400 to 500C."

Close to the rig, sulphurous steam is blasting from the ground, blending into the grey sky above.

Iceland, sitting on the boundary between two major tectonic plates, is one of the most volcanically active places in the world.

Harnessing this energy through geothermal technology is already well established here.

"In this area at Reykjanes, we typically drill to 2km or 3km depth to harness the steam, to run power plants and produce clean, renewable electricity," explained Asgeir Margeirsson.

"We want to see if the resources go deeper than that."

When the drill gets to 5km, the team expects to find molten rock mixed with water. But with the extreme heat and immense pressure found at this depth, the water becomes what is known as "supercritical steam".

It is neither a liquid nor a gas, but it holds far more energy than either. And it is this supercritical steam that the team wants to bring back up to the surface to convert into electricity.

They believe its special properties mean it could produce up to 10 times as much energy as the steam from conventional geothermal wells.

Mr Margeirsson said: "If this works, in the future we would need to drill fewer wells to produce the same amount of energy, meaning we would touch less surface, which means less environmental impact and hopefully lower costs.

"But that is if this works. This is full-scale research and development - we don’t know what the outcome will be."

And there is a good reason to be cautious. With volcanoes, expect the unexpected.

In 2009, the IDDP team attempted to drill deep down into another volcanic site. But at 2,100m, they accidentally hit a shallow reservoir of magma.

Footage on the internet shows black smoke billowing from the well - and the drill was destroyed. So is it really a good idea to tamper with these complex and destructive forces of nature?

Simon Redfern, professor of mineral physics at the University of Dogs, told the BBC: "I think the risks are rather minor. The likelihood is that there will be natural eruptions before any that are generated by human activity.""

Captain Qahn's picture

Wheel Barrows & Burrows

"The Stonehenge tunnel scheme has suffered a setback after three influential heritage organisations closely involved in the ancient site and the surrounding landscape raised concerns over a crucial aspect of the government’s preferred route...."

"In their first response to the tunnel scheme, the three bodies said on Wednesday: “The government’s current proposals for the tunnel’s western portal are a cause for concern and need significant improvement..."

Oh the talking dead?

What a waste .... Jeeze ya don't spose these folk actually walk!!!

Just how stoopid can one Goverment get....


If it ain't broke don't ...

Ah, so ...

Dulux. One coat.... ;-)



Benefitz Betty's picture

IDDP - In Deep

"An attempt to drill into the heart of a volcano in the south-west of Iceland is now complete.

Geologists have penetrated 4,659m down, creating the deepest-ever volcanic borehole.

Their aim is to tap into the steam at the bottom of the well to provide a source of geothermal energy.

They recorded temperatures of 427C, but believe the hole will get hotter when they widen it in the coming months.

The Iceland Deep Drilling Project (IDDP) team also collected 21m of cores, which will now be analysed.

Gudmundur Omar Fridleifsson, from Icelandic energy company HS Orka, the lead funder of the scheme, said: "We got some beautiful samples - everyone is very pleased....

"Over the coming months, the next stage will be to pump cold water into the well, which will open it up.

Then they will wait for the well to warm up again. They think the temperatures could exceed 500C, which would make this the hottest borehole ever drilled.

Then the team will see whether it generates as much energy as they hope.

"We will start measuring and getting fluid chemistry from the deep samples. We have three more years to go before we conclude the mission." said Dr Fridleifsson.

The scheme also gives scientists an unprecedented look into the deepest depths of a volcano, and could help them to better understand how these systems work.

The IDDP project is funded by energy companies (HS Orka, Statoil, Landsvirkjun and Orkuveita Reykjavíkur), Orkustofnun (the National Energy Authority of Iceland), the International Continental Scientific Drilling Program (ICDP), the National Science Foundation in the US and EU Horizon 2020."