In the midst of the economic turmoil affecting the globe it is important to not only look at the short term but to look further down the road. Even though the credit crunch has affect Iceland more severely than most western countries the long term economic outlook in Iceland is very positive. The untapped renewable energy sources, the highly advanced, comprehensive infrastructure and a young population with a high education level supports positive outlook for the future.

This fact is one of the primary reasons the international aluminum company Alcoa Inc. is still committed to build a second smelter in Iceland: “When you look beyond the current situation, Iceland has incredible fundamentals … with the exception of importing gasoline and diesel for transport, Iceland is energy self-sufficient”, says Kevin Anton, VP of Alcoa in an interview with Metal Bulletin.