The banking crisis has brought Iceland into the headlines around the world, but seven years ago the country embarked on a unique experiment. It set out to explore the feasibility of a hydrogen economy on a widespread scale, including the use of hydrogen as a transportation fuel. The world's first hydrogen refueling station opened in Reykjavik in 2003 and a fleet of hydrogen-powered buses have plied the streets of the city. The next phase of the experiment – finances permitting – will focus on hydrogen to fuel the country's cars and fishing fleet. Icelandic New Energy, who spearheaded the efforts, has said that it is feasible – although ambitious – to convert Iceland from reliance on fossil fuels to hydrogen by 2050.