The 'Dreki' area for anyone intersted is a bit of the contental land mass that is 'floating' out on the far North Atlantic just south of Jan Mayern land.

A link is here to a discussion on the geology. I went a hunting as the idea of anything near Iceland being old enough for oil and gas seemed a tad unlikely too me. I was half right, its miles away from Iceland and the region where the oil bearing "potential" is supposed to be is mostly in the Norwegian bit of rock.

Lets just say Id not be planning budgets on the back of oil and gas revenue from the region quite yet.


On an aside the reason everyone is so bloody hot mad on the Arctic containing oil seems to be this:

http://en.wikipedia.org/wiki/Azolla_event

An anoxic event involving loads of biological material.

More hope for Iceland: After the Crash, Iceland's Women Lead the Rescue

Check out the article. I'm not sure where else this could work (maybe other Scandinavian countries) but I kinda wish I was there to find out.

Linky: http://www.buzzle.com/articles/252306.html

An update on Iceland. http://www.vanityfair.com/politics/features/2009/04/iceland200904

And the difference between what happened in Ice Land and whats happening on Wall street is what? Adding three more zeros on the numbers?
Good article by the way.

Thanks for the link. I just finished a piece on Iceland in a recent New Yorker. (are they online? I'll see if I can find it.) and I look forward to this one.

I wonder how the social programs and entitlements are faring in Iceland these days. When the local taxpayer has to decide between subsidizing a parasite or getting a piece of bread. I wonder what he will choose. http://whiskeyandgunpowder.com/iceland-harbinger-of-worldwide-collapse/

me thinks he'll think about lynching the nearest free-market capitalist in sight for getting him into this pickle in the first place.

I think he will choose bread over paying for an artsy fartsy entitlement program, that saw some stoned dead beat get payed for trash. If the Gubmint in your jurisdiction was stupid enough to ask you. When you are out of work and your family is hungry, what should we fund, the entitlement for trash artists or would you prefer that the scarce taxdollars feed you and your family?

+2

I just hope that when they pull out the pitchforks they get the right
ones - the slimy banksters and financiers who hoped to get away with
their multimillion bonuses knowing full well what damage they were
causing.

One advantage Iceland has over us - they don't have a bunch of asswipe white supremacists trying to score cheap points on the crisis.

This is what Obama and the Democrats are exactly trying to do. Good pickup.

Foot soldiers for crooked banksters.

Doubtful if the bankers are jewish.

I have reciently been reading several books and articles on the Great Depression (yes I do read) and I am surprised how the crash of 1929 paralleled the crach 0f 2008. If the rest of the senario holds we are all in big trouble. I'm really not a great fan of Obama, but I can really see whatelse he can do. Expect another major downturn in 2016, and welcome to the Great Worldwide Depression II.

Do you honestly believe, after the fiasco of innumerable wars and economic scams, that crooked opportunists peddling the variety of paranoias we have grown accustomed to, are in it for the love of of it? Lol. It's the money pal. All the rest is bunkum and confusion.