In spite of the countless headlines highlighting Puerto Rico’s economic and infrastructural struggles in recent months, it is important to also discuss the myriad opportunities for the territory to achieve consistent economic prosperity going forward. Inarguably, the majority of current news headlines focusing on Puerto Rico have focused on issues that include inability to pay back debt, challenges in the face of natural disaster, and difficulty rebuilding local infrastructure. These articles have primarily illuminated problems that many citizens, businesses, and government institutions of Puerto Rico have been facing, and discussed the relative severity of respective events. While news stories...Read More
Author: Daniel Ziebarth
Following World War II, the United States provided Western European countries with over $12 billion in funding in order to assist in the redevelopment of infrastructure and capital projects to rebuild the shattered economies in the wake of years of armed conflict. On Tuesday, November 28, Senator Bernie Sanders (I) of Vermont and Senator Elizabeth Warren (D) of Massachusetts released a similarly targeted “Marshall Plan” for Puerto Rico. The proposed plan includes $146 billion worth of overall funding for Puerto Rico and the US Virgin Islands, and would provide $13 billion for the Federal Emergency Management Agency (FEMA) to...Read More
While Puerto Rico continues to rebuild in the wake of Hurricane Maria, a new hurdle has appeared as Whitefish Energy has stopped their work in the territory. Whitefish Energy has been working with the Puerto Rico Electric Power Authority (PREPA) to reconstruct over 100 miles of downed transmission lines, however, on Monday November 20, the Montana-based company released a statement explaining that payments from PREPA had been delayed causing Whitefish Energy and its subcontractors to stand down “until PREPA pays for approved work already completed”. CEO of Whitefish Energy, Andrew Techmanski, also stated in the release that the shortfall...Read More
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