Iceland an oil state in less than two years?

Iceland could be on the verge of discovering oil in its waters between Iceland and Norway. The area is called Dragon area, shaded on the picture that comes with this entry. It is been talked about for a few years, and the government has been doing preliminary research on the matter. Now, a British-Dutch company that specialises itself in locating oil and mineral with satellites, has found an oil leak in the area, that seems to indicate that oil can be found and harvested there. The first oil drilling rig could be there as soon as next year.Dragon area

This sound like good news. The thing that we at Nestor Media have wandered about is the strange promotional tactics of Ossur Skarphedinsson, secretary of industry and foreign secretary. He calls himself Oil minister at times. From a PR point of view, this is a questionable method. What has bothered many others on the other hand is the connections between Kaupthings former owners Olafur Olafsson and his partnership in the Libyan oil company. That is connected to the Libyans trying to buy Kaupthing Luxembourg.

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