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Sinking Finances Throw Iceland's 'Hydrogen-Based Economy' In

nytimes.com -- Published: July 1, 2009
REYKJAVIK, Iceland -- The financial crisis that brought Iceland to the brink of bankruptcy has postponed this volcanic island's ambitious dream of ditching fossil fuels and transforming itself into the world's first hydrogen-based economy.Proponents of a government-sanctioned scheme to derive hydrogen from water and use it to power all ground transportation as well as Iceland's large fishing fleet admit that their plans have been set back at least 10 years and may have to be altered to allow for electric cars.

Ten years ago, Iceland started experimenting with hydrogen applications in transportation. Three city buses ran solely on hydrogen in Reykjavik for three years. As many as 16 passenger vehicles ran on hydrogen in the city. Twelve remain in operation today

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Submitted Jul 03, 2009 By: teafortwo

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Kato51 Champion Author Atlanta Posts:2,859 Points:1,279,895 Joined:Jul 2005	Message Posted: Jul 3, 2009 5:16:54 PM Ignore Kato51 Report Abuse Lets hope they can keep this application on the move. If so, the profits could assist in pulling the country from its financial woes. This would be great.
Cruiser340 Champion Author Grand Rapids Posts:7,555 Points:1,819,960 Joined:May 2004	Message Posted: Jul 3, 2009 5:12:10 PM Ignore Cruiser340 Report Abuse Times are tough, but don't give up the ship.
VDubBill Champion Author Jacksonville Posts:1,010 Points:488,145 Joined:May 2008	Message Posted: Jul 3, 2009 5:09:45 PM Ignore VDubBill Report Abuse roadjet, You're not supposed to put one and one together and get two, and you're supposed to ignore the man behind the curtain.
WCCurtis Champion Author San Bernardino Posts:3,025 Points:923,365 Joined:Oct 2005	Message Posted: Jul 3, 2009 5:07:55 PM Ignore WCCurtis Report Abuse Keep the Government out and let Capitalism/Free markets decide. The people can always do a better job than the Government in finding the solution to a problem.
gg42210 Champion Author Kentucky Posts:1,899 Points:332,970 Joined:Aug 2008	Message Posted: Jul 3, 2009 5:06:03 PM Ignore gg42210 Report Abuse bankruptcy is all over the world anymore. times are hard.
Wesk8 Champion Author Michigan Posts:1,469 Points:640,105 Joined:Aug 2005	Message Posted: Jul 3, 2009 5:00:55 PM Ignore Wesk8 Report Abuse How do you figure that, Papa? Seems that hydrogen would need to be centrally produced and distributed, thus easily taxed.
dannyshouse Champion Author San Francisco Posts:1,461 Points:666,950 Joined:Apr 2008	Message Posted: Jul 3, 2009 5:00:26 PM Ignore dannyshouse Report Abuse NYTimes.com link broken for the rest of the full article. Yes, it would be nice to have all the facts
CiVX Champion Author Oakland Posts:3,145 Points:535,510 Joined:Feb 2009	Message Posted: Jul 3, 2009 4:57:29 PM Ignore CiVX Report Abuse Didn't that whole country just go bankrupt?
paulydel Champion Author Delaware Posts:4,239 Points:467,805 Joined:Jan 2008	Message Posted: Jul 3, 2009 4:53:16 PM Ignore paulydel Report Abuse It would be nice to be able to read the whole story to find out what happened.
papagreg Champion Author Sacramento Posts:1,527 Points:512,700 Joined:Jan 2008	Message Posted: Jul 3, 2009 4:51:36 PM Ignore papagreg Report Abuse I guess Obama really isn't interested in "going green" like he says or promised. Not enough tax money from renewable energy like hydrogen.
ljmatney Champion Author Wichita Posts:4,024 Points:565,120 Joined:Jul 2008	Message Posted: Jul 3, 2009 4:47:09 PM Ignore ljmatney Report Abuse Procrastination is not ever a good thing.
Wesk8 Champion Author Michigan Posts:1,469 Points:640,105 Joined:Aug 2005	Message Posted: Jul 3, 2009 4:46:59 PM Ignore Wesk8 Report Abuse Joe, the future is here, it's just not widely distributed
KerryDeland Champion Author Florida Posts:2,329 Points:455,165 Joined:Jun 2008	Message Posted: Jul 3, 2009 4:45:22 PM Ignore KerryDeland Report Abuse Yes there is an up-front cost to go green or to ditch fossil fuels and convert to something else. And it ain't getting cheaper so those who plan on waiting may miss the proverbial "boat",
moody4u Champion Author Cincinnati Posts:2,999 Points:579,025 Joined:Oct 2008	Message Posted: Jul 3, 2009 4:45:13 PM Ignore moody4u Report Abuse big broke
djgunrunner Champion Author Salt Lake City Posts:4,834 Points:1,387,590 Joined:Apr 2005	Message Posted: Jul 3, 2009 4:44:23 PM Ignore djgunrunner Report Abuse Once you start a project like this you have to keep with it. The bums on the hill in Washington won't even give Hydrogen a try. Norway did and is going forward with it. They complain about pollution and gases and yet when the cleanest fuel is available they disregard it because someone in lining their pockets with incentives.
silverfox63 Champion Author Michigan Posts:3,364 Points:672,670 Joined:Oct 2008	Message Posted: Jul 3, 2009 4:43:20 PM Ignore silverfox63 Report Abuse I don't we will be seeing hydrogen based cars or anything else for some time.
JoeKR Champion Author New Jersey Posts:4,995 Points:1,113,100 Joined:Feb 2006	Message Posted: Jul 3, 2009 4:43:04 PM Ignore JoeKR Report Abuse If they've been propelling vehicles for 10 years, including passenger cars, I guess the technology is here. That gives us another way to replace petroleum.
Wesk8 Champion Author Michigan Posts:1,469 Points:640,105 Joined:Aug 2005	Message Posted: Jul 3, 2009 4:40:22 PM Ignore Wesk8 Report Abuse Hmmmm Hydrogen Hybrids... Great idea Courier! Hydrogen will no doubt be green, but it won't be free. May as well use it efficiently.
stugha Champion Author Massachusetts Posts:2,161 Points:266,065 Joined:Sep 2006	Message Posted: Jul 3, 2009 4:38:15 PM Ignore stugha Report Abuse Send the Hydrogen down here.
courier400 Champion Author Kansas Posts:9,751 Points:2,167,405 Joined:Mar 2004	Message Posted: Jul 3, 2009 4:35:33 PM Ignore courier400 Report Abuse Hydrogen hybrids?
nojsts Champion Author St. Louis Posts:14,048 Points:2,829,905 Joined:May 2002	Message Posted: Jul 3, 2009 4:32:42 PM Ignore nojsts Report Abuse Perhaps hydrogen as fuel should be phased in, no do it all at one time.
MG_Sputnik Champion Author Philadelphia Posts:3,243 Points:1,033,480 Joined:Apr 2006	Message Posted: Jul 3, 2009 4:32:20 PM Ignore MG_Sputnik Report Abuse I wonder what the beaches are like there?
BWD Champion Author Charleston Posts:2,432 Points:1,621,785 Joined:May 2004	Message Posted: Jul 3, 2009 4:29:50 PM Ignore BWD Report Abuse This will not happen in my lifetime....here or there!
E-Squirrel Champion Author Orange County Posts:1,635 Points:428,680 Joined:Feb 2005	Message Posted: Jul 3, 2009 4:28:45 PM Ignore E-Squirrel Report Abuse This is really no surprise. The 'hydrogen economy' is years away from being economic. When the free market tells us that loud and clear, some stubborn individuals will try to tell you that the free market has 'failed', because it hasn't provided what they dream for. Because of their dreams, and belief that the free market has 'failed', they attempt these experiments and tell us that they are 'investing in the future'. What they are doing is wasting and mis-allocating capital. In an economy like the former USSR, you can conceal this sort of thing for years, but eventually, the failure becomes obvious. This took 'only ten years' to be exposed.
Wesk8 Champion Author Michigan Posts:1,469 Points:640,105 Joined:Aug 2005	Message Posted: Jul 3, 2009 4:28:44 PM Ignore Wesk8 Report Abuse Right on Buck! And Fig, they filed for bankruptcy while the previous administration was in office.
no_monkey2002 Champion Author Tallahassee Posts:3,803 Points:1,127,090 Joined:Mar 2006	Message Posted: Jul 3, 2009 4:25:21 PM Ignore no_monkey2002 Report Abuse OBAMA will fix it
figman Champion Author Chicago Posts:9,272 Points:2,722,520 Joined:Sep 2001	Message Posted: Jul 3, 2009 4:21:00 PM Ignore figman Report Abuse Were they forced into bankruptcy so our 'leader of change' could take them over??
Gerg001 Champion Author San Bernardino Posts:2,407 Points:678,945 Joined:Feb 2006	Message Posted: Jul 3, 2009 4:20:34 PM Ignore Gerg001 Report Abuse We can only hope.
katmandue Champion Author Detroit Posts:3,170 Points:1,175,655 Joined:Jul 2006	Message Posted: Jul 3, 2009 4:19:25 PM Ignore katmandue Report Abuse To bad it could only have helped
Buck_on_Bass Champion Author Tennessee Posts:2,811 Points:601,830 Joined:Jul 2007	Message Posted: Jul 3, 2009 4:18:30 PM Ignore Buck_on_Bass Report Abuse Iceland is a small country. Their main natural resource is geothermal energy. With non fossil energy to make hydrogen, their use of hydrogen vehicles may be the right solution for them.
Speedy1W1 All-Star Author Madison Posts:578 Points:150,740 Joined:Mar 2009	Message Posted: Jul 3, 2009 4:11:35 PM Ignore Speedy1W1 Report Abuse Go figure
roadjet Champion Author Baton Rouge Posts:8,906 Points:1,128,120 Joined:Jul 2007	Message Posted: Jul 3, 2009 4:08:44 PM Ignore roadjet Report Abuse Too true......... "Let's see ... a "government-sanctioned scheme" to transform "itself into the world's first hydrogen-based economy ..." - and the whole nation just went BANKRUPT??? Do you suppose there's a connection between the two? Government Schemes and national bankruptcy???? We better figure this one out quickly, for we are headed down the path of Iceland, and picking up speed under Obama .... "
LCSTEELERBOB Champion Author Gary Posts:1,588 Points:366,895 Joined:Oct 2008	Message Posted: Jul 3, 2009 4:07:44 PM Ignore LCSTEELERBOB Report Abuse Lets hope this is not us.
GryphonX Champion Author Nevada Posts:2,888 Points:733,405 Joined:Nov 2007	Message Posted: Jul 3, 2009 4:03:45 PM Ignore GryphonX Report Abuse Let's see ... a "government-sanctioned scheme" to transform "itself into the world's first hydrogen-based economy ..." - and the whole nation just went BANKRUPT??? Do you suppose there's a connection between the two? Government Schemes and national bankruptcy???? We better figure this one out quickly, for we are headed down the path of Iceland, and picking up speed under Obama ....
niceguytx Champion Author Houston Posts:8,973 Points:1,751,675 Joined:Sep 2005	Message Posted: Jul 3, 2009 3:57:08 PM Ignore niceguytx Report Abuse They may have been too liberal. This may be good for them. I hope it works out well.
TeachR06 Champion Author Raleigh Posts:3,535 Points:1,012,760 Joined:Sep 2006	Message Posted: Jul 3, 2009 3:51:05 PM Ignore TeachR06 Report Abuse you do whatever you have to do for the sake of being fiscally responsible right now.
LilRedWagonIN Champion Author Indiana Posts:2,840 Points:608,030 Joined:Oct 2008	Message Posted: Jul 3, 2009 3:47:01 PM Ignore LilRedWagonIN Report Abuse So, the silver lining in the land of fire and ice is that they may get electric vehicles.
la90042 Champion Author Los Angeles Posts:2,402 Points:505,405 Joined:Nov 2008	Message Posted: Jul 3, 2009 3:44:48 PM Ignore la90042 Report Abuse short sighted...
vegaland Champion Author Houston Posts:2,403 Points:501,795 Joined:May 2006	Message Posted: Jul 3, 2009 3:41:52 PM Ignore vegaland Report Abuse With all the geothermal they have, why hydrogen?
1fulltank Champion Author Buffalo Posts:3,015 Points:582,825 Joined:Nov 2008	Message Posted: Jul 3, 2009 3:35:50 PM Ignore 1fulltank Report Abuse Everything costs money. The decision has to be made by importance, not necessarily popularity.
hangupanddrive Champion Author Michigan Posts:1,831 Points:1,157,655 Joined:Aug 2005	Message Posted: Jul 3, 2009 3:35:13 PM Ignore hangupanddrive Report Abuse Hope they survive and keep hydrogen. It might benefit more than Iceland. We too need to invest in it. The sooner we all get off the oil thing, the faster we'll stop funding the middle east.
theduster1 Champion Author Texas Posts:1,411 Points:318,490 Joined:Apr 2008	Message Posted: Jul 3, 2009 3:35:10 PM Ignore theduster1 Report Abuse hope they can get back on track with it good luck
mandoid Champion Author Colorado Springs Posts:2,896 Points:617,620 Joined:May 2008	Message Posted: Jul 3, 2009 3:23:55 PM Ignore mandoid Report Abuse interesting dellman.
eagleeye2008 Champion Author Wisconsin Posts:4,028 Points:764,165 Joined:Jul 2008	Message Posted: Jul 3, 2009 3:16:34 PM Ignore eagleeye2008 Report Abuse SOMEONE HAS TO "GO-FOR-IT",AND GIVE IT A TRY,,,,GOOD LUCK ICELAND !!!!
repeater1 Champion Author Kansas Posts:3,472 Points:1,407,270 Joined:Oct 2005	Message Posted: Jul 3, 2009 3:14:42 PM Ignore repeater1 Report Abuse They just may be ahead of the rest of the world when it comes to solvency.
Beboper Champion Author Virginia Posts:3,782 Points:1,188,360 Joined:Oct 2005	Message Posted: Jul 3, 2009 3:13:01 PM Ignore Beboper Report Abuse everyone needs money
BartBuzz Champion Author Atlanta Posts:3,948 Points:811,960 Joined:Aug 2006	Message Posted: Jul 3, 2009 3:11:58 PM Ignore BartBuzz Report Abuse Who cares about Iceland?
DellMan Champion Author Omaha Posts:1,917 Points:442,925 Joined:Apr 2008	Message Posted: Jul 3, 2009 3:09:32 PM Ignore DellMan Report Abuse They wouldn't be going bankrupt had they not insisted on closing the US Naval base in Keflavik. They lost out on the tourism money when the 2500 active duty personnel and their families left. Their financial problems started less than a year after they kicked us out. We used to run a Search & Rescue mission and saved hundreds of lives over the years we were there. The US Navy saved one of their islands from a volcano eruption in the late 60's. There quick action prevented any loss of life from a massive volcanic eruption. The military is not all about fight like most people see on TV.
pictureman Champion Author Miami Posts:1,102 Points:1,101,030 Joined:Feb 2003	Message Posted: Jul 3, 2009 3:08:57 PM Ignore pictureman Report Abuse I still believe the air compressed car is the answer!
Hugo40 Champion Author Kentucky Posts:2,763 Points:654,910 Joined:Aug 2008	Message Posted: Jul 3, 2009 3:08:08 PM Ignore Hugo40 Report Abuse Money may also play a key role in the US administration's plans on going more "green".
DeHavilland Champion Author Toronto Posts:3,214 Points:1,008,795 Joined:Jun 2007	Message Posted: Jul 3, 2009 3:07:00 PM Ignore DeHavilland Report Abuse Eveerybody's on "the Brink" thanks to stupid and greedy bankers all over the world.
balljars Champion Author Michigan Posts:3,663 Points:727,225 Joined:Aug 2008	Message Posted: Jul 3, 2009 3:01:54 PM Ignore balljars Report Abuse You need money for everything.