Saving Iceland

The professional environmental saboteur, Friðrik Sophusson, former president of Landsvirkjun (Icelandic National Energy Company) and before that the financial minister under the Independent Party’s reign of terror, has now become head of the board of directors of Íslandsbanki, one of the government owned banks since the collapse of the bank system in 2008. The bank is now mostly in the hands of it’s creditors and the board of directors, which has been expanded to 7 members, are now mostly foreign experts in the financial sector.

Íslandsbanki also owns majority in the geothermal energy company Geysir Green Energy and controls all of it’s board members. Geysir Green Energy, in return, owns a majority stake in HS Orka (Southern Peninsula Geothermal Energy Company), or 57,4% stock after acquiring 34% stock from the municipality of Reykjanes Town and selling 8,6% to the Canadian Magma Energy Corp.

So Sophussons years in meddling with Icelands resources and energy companies are obviously far from over, and now he’s got his dirty fingers down in the money jar as well, where he can apply the needed pressure on these companies, owned by his bank, to further his dream of a totally harnessed Iceland.