Ken, Iceland's energy isn't particularly portable.  It's tough to export geothermal energy,  and if you're a small island in the middle of the North Atlantic,  separated from the nearest continental power grid by a lot of ocean, it's tough to export the electricity generated from the geothermal energy.  So, to use it for smelting, you have to ship the bauxite to the electricity.  Not so for Alaska's Natural Gas.  Natural gas can be exported fairly cheaply either by pipeline or by LNG tanker.  For a portable form of energy like natural gas, it makes more economic sense to bring the gas to the industry, than to bring the industry to the gas.