ICELAND ENERGY AND ENVIRONMENTAL STRATEGY

In relation to its population, Icelanders are endowed with vast hydro and geothermal energy resources, which to a large extent (>99%) await exploitation. For example, Iceland geothermal reserves alone are equiv alent lent approximately, in energy terms, to one-third of the world's currently known crude-oil reserves. Such readily available energy res ources provide diverse possibilities for new industrial developments a nd, if properly exploited, ave likely to be major contributory factors in enhancing the average standard of living for Icelanders. To this e nd a long-term strategy has been adopted by the Icelandic Government w ith regard to research and development. The pertinent Government polic ies are in several respects unique to Iceland because of its geographi c location.