Minecraft - Error message: could not open Java Virtual Machine

Issue

Upon launching Minecraft, the following error message is displayed:
Error: could not open Java Virtual Machine
Error: A fatal exception as occured program will exit

Solution

• Right-click on "Computer" and select "Properties"
• Then go to "Advanced" or "Advanced Settings" > "Environment Variables"
• Below "System Variables". click on "New":
• For "Variable name" enter: "_JAVA_OPTIONS"
• For "Variable value" enter: "-Xmx512M