I did look at the source and it only revealed what I and others already know. This is an expensive and as yet unproven system that drills into the earth and pumps WATER to try and pull out the trapped geothermal heat.

"EGS is not for tomorrow," adds Lucien Bronicki, Ormat's co-founder and chief technology officer. "You have to reduce the cost of drilling to be able to go deep. You have to improve the efficiency of the pumps so you don't lose too much electricity pumping water around."

But for Google, one of the world's largest consumers of energy for its endlessly multiplying data centers, access to a googol's worth of clean energy is quite appealing. "EGS is a ...

I did look at the source and it only revealed what I and others already know. This is an expensive and as yet unproven system that drills into the earth and pumps WATER to try and pull out the trapped geothermal heat.

"EGS is not for tomorrow," adds Lucien Bronicki, Ormat's co-founder and chief technology officer. "You have to reduce the cost of drilling to be able to go deep. You have to improve the efficiency of the pumps so you don't lose too much electricity pumping water around."

But for Google, one of the world's largest consumers of energy for its endlessly multiplying data centers, access to a googol's worth of clean energy is quite appealing. "EGS is a very exciting opportunity," Reichert adds. "We have a long way to go to bring it to commercial reality."

As far as Google investing, 11 million isn't squat. If they really thought it was going to be big, they would have dumped 500 million minimum. They can afford it.

So the only 'spin' here is one presented by the clip itself. If the resource was truly viable it would have been done already en masse. Smart people know the government is NEVER first in any new technology, the private sector is. Don't expect the government to invest in something worthwhile until the private sector has already proven it is worthwhile.

Yes, that's why Iceland's government pushes so hard for it.
:-|

Apparently, Icelands government is not too bright- They are facing bankruptcy at this very moment. So much for being smart investors.

The stunning collapse of Iceland
Nation may face bankruptcy, with dire effects for its investments overseas

Home to just 304,000 people, tiny Iceland is emerging as the biggest casualty of the global financial crisis. On Oct. 9, the government took control of the country's largest bank, Kaupthing, and halted trading on the Reykjavik stock exchange until Oct. 13. Authorities also used sweeping new emergency powers to ...

Yes, that's why Iceland's government pushes so hard for it.
:-|

Apparently, Icelands government is not too bright- They are facing bankruptcy at this very moment. So much for being smart investors.

The stunning collapse of Iceland
Nation may face bankruptcy, with dire effects for its investments overseas

Home to just 304,000 people, tiny Iceland is emerging as the biggest casualty of the global financial crisis. On Oct. 9, the government took control of the country's largest bank, Kaupthing, and halted trading on the Reykjavik stock exchange until Oct. 13. Authorities also used sweeping new emergency powers to hive off most of the domestic assets of the country's second-largest bank, Landsbanki, into a separate entity to be called "New Landsbanki" that will be fully owned by the government.

In a stunning turn of events over the past week, the vast majority of Iceland's once-proud banking sector has been nationalized. The government has taken control of Kaupthing, Landsbanki, and the No. 3 bank, Glitnir. Kaupthing also was forced to take an emergency $702 million loan from Sweden to prop up its Swedish arm, while the Norwegian Banks' Guarantee Fund offered $819 million in liquidity support to the local unit of Glitnir.
Now some believe that Iceland, which has transformed itself from one of Europe's poorest countries to one of its wealthiest in the space of a generation, could face bankruptcy. In a televised address to the nation, Prime Minister Geir Haarde conceded: "There is a very real danger, fellow citizens, that the Icelandic economy in the worst case could be sucked into the whirlpool, and the result could be national bankruptcy."