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| | TIME Europe Magazine: The Price of Wealth -- Aug. 16, 2004 |
 | | The men are working on the Kárahnjúkar Hydroelectric Project: a vast network of dams, reservoirs, tunnels, power stations and high-tension lines to support a new aluminum-smelting plant for the U.S. multinational Alcoa on a fjord some 70 km to the east. |
 | | The whole enterprise, says Arnalds, is "not only to create jobs locally, but to create national wealth." Iceland has an abundance of hydroelectric power, so the government is encouraging energy-hungry industries to settle here. |
 | | But Sigurdur Arnalds, spokesman for Landsvirkjun, the national power company, which is developing the Kárahnjúkar project, downplays the environmental impact, saying the scheme which is supported by the national government, local authorities and a significant majority of the general public will create about a thousand jobs in the sparsely populated east. |
| time.com /time/europe/magazine/article/0,13005,901040816-678570,00.html |
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