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...partners.) Grimsson traces his interest in climate change to the 1980s, when he met a fellow legislator who saw trouble on the horizon: Al Gore. Back home, Grimsson, 63, has witnessed Iceland's conversion from a coal-dependent economy to a nation that gets most of its heat from clean, renewable geothermal resources. "My job as a young boy was to get the coal for the house for my grandmother," he says, recalling Reykjavík's soot-black skies. "If Iceland could achieve such a radical change in one generation, enormous changes can succeed all over the world...
Grimsson "wants to make Iceland an example of what can be done," says Sigurdur Gislason, a research professor at the University of Iceland. "We have enormous amounts of clean energy and a small society. You can do experiments here that you can't do anywhere else...
...want, and scientists know precisely where they are. The natural gas that heats homes, fires stoves and runs factories is found in deep, saline-rich limestone and sandstone cavities, where spongelike pores store gas and help keep it from leaking away. When the energy industry pumps a deposit clean, the chambers stand empty. Not only are the shape and capacity of the cavities mapped, but also in many cases equipment is still on hand that could easily be repurposed from extraction to injection...
This kind of environmental posing--greenwashing is the term of art--will not be a viable business strategy in a world transformed by climate change. The smart money is betting on the need for real innovation--clean technology that lowers costs or improves output. Venture capital is increasingly flowing to green start-ups: $474 million in the first three quarters of 2006 in Silicon Valley alone. That's sparking the interest of everyday investors, who see green technology as--dare they wish it?--the next Internet. Says Ray Lane, a partner at the KPCB venture-capital firm: "If you consider...
...Legion D'Honneur, inducted by President Jacques Chirac most likely in gratitude for Gaydamak's help in securing the release of Frenchmen who'd been taken hostage by Serb paramilitaries in 1995. While in Israel, Gaydamak has been investigated for money laundering. He insists his business practices are clean and that he made the bulk of his money speculating in the Russian stock market...