Two weeks after Hurricane Maria hit Puerto Rico, only a fraction of residents have electricity. The rest are facing a months-long wait for power. Now, a number of companies are looking to solar power, not just as a disaster response, but as way to power the island long term. The idea is to use several […]
It’s been weeks now since Hurricane Maria hit Puerto Rico, and still a vast majority of the island, nearly 90 percent, doesn’t have power. Elon Musk, on Twitter, suggested his solar power technology could be scaled up to rebuild the entire power grid, and the governor of the island, Ricardo Rossello, tweeted back “Let’s talk.” […]
Puerto Rico’s billions of dollars in outstanding debt involves a complicated mix of obligations: general government bonds sold by Puerto Rico, sales tax-backed bonds, electric power revenue bonds … it’s a long list. Bond insurers are on the hook for a portion of the debt if the government agencies that issued the bonds fail to […]
The Trump Administration plans to ask Congress for around $13 billion in new aid for Puerto Rico, according to news reports. The president is expected to visit tomorrow. Large parts of the island are still without electricity and clean drinking water after Hurricane Maria made landfall nearly two weeks ago. Yesterday, FEMA’s administrator pointedly defended […]
President Donald Trump has tweeted out criticisms of Puerto Rican elected officials over their emergency response to the devastation of Hurricane Maria. He has linked the enormous scale of devastation to the island’s poorly maintained infrastructure, and suggested that federal financial assistance for rebuilding might be impacted by the island’s multi-billion dollar outstanding debt. Experts […]
