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MIL-OSI Energy: IEEFA update: The banks, law firms, accountants and credit agencies that orchestrated Puerto Rico’s $72 billion debt crisis

By   /  September 5, 2018  /  Banco Popular, Bank of America, Barclays, BBVA, Business, Citibank, Commentary, Commodities, Delafield and Wood, Deloitte and Touche, Economy, Energy, English, Ernst and Young, Exploitation, Exploration, Federal Oversight Management Board, Fiddler, First Bank, FOMB, Gas, Global Economy, Goldman Sachs, Gonzalez and Rodriguez, Greenberg Traurig, Hawkins, Hearst Communication/Fitch, Industry, Institute for Energy Economics and Financial Analysis, JP Morgan, Kobre & Kim, KPMG, Mendez Alvarez, Merrill Lynch, MIL Oil-Energy Sector OSI, MIL OSI, MIL OSI Economics, Mining Sector, Moody’s Corporation, Morgan Stanley, Newsletter Daily, O’Neil and Borges, Oil, Oil Rigs, Open Source Intel, Pietrantoni, PREPA, Puerto Rica, Puerto Rico, Puerto Rico-PREPA, S & P Global Inc., Santander, Scotia Bank, Sidley Austin/Brown and Wood, Squire Sanders, U.S. Bank Trust National Association, UBS (PaineWebber), Wells Fargo  /  Comments Off on MIL-OSI Energy: IEEFA update: The banks, law firms, accountants and credit agencies that orchestrated Puerto Rico’s $72 billion debt crisis

Source: Institute for Energy Economics and Financial Analysis A federal report names names: Financial advisers who enabled (and profited from) commonwealth’s fiscal despair are worth over $2 trillion An army of high-priced talent from some of the world’s most prestigious law firms, accounting companies, investment banks and credit agencies are responsible for having steered the […]

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MIL-OSI Energy: IEEFA update: In designing its electricity grid, Puerto Rico must look to the future

By   /  August 29, 2018  /  Agguire Offshore GasPort, Business, Cambio PR, Commentary, Commodities, Economy, El Puente, Energy, English, Exploitation, Exploration, Gas, Global Economy, Industry, Institute for Energy Economics and Financial Analysis, MIL Oil-Energy Sector OSI, MIL OSI, MIL OSI Economics, Mining Sector, Newsletter Daily, Oil, Oil Rigs, Open Source Intel, Puerto Rico, Puerto Rico-PREPA, Sierra Club  /  Comments Off on MIL-OSI Energy: IEEFA update: In designing its electricity grid, Puerto Rico must look to the future

Source: Institute for Energy Economics and Financial Analysis Energy Bureau should reject ideas that will hamper development of renewable energy and micro-grids Puerto Rico has a historic opportunity to rebuild its electrical system and phase out its obsolete oil-fired generation in favor of a much more decentralized and reliable system based on renewable energy. To […]

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MIL-OSI Energy: IEEFA op-ed: Who really owes Puerto Rico’s bondholders—and how much?

By   /  August 25, 2018  /  Bond Buyer, Business, Commentary, Commodities, Economy, Energy, English, Exploitation, Exploration, Gas, Global Economy, Industry, Institute for Energy Economics and Financial Analysis, Kobre & Kim, MIL Oil-Energy Sector OSI, MIL OSI, MIL OSI Economics, Mining Sector, Newsletter Daily, Oil, Oil Rigs, Open Source Intel, Puerto Rico, Puerto Rico-PREPA  /  Comments Off on MIL-OSI Energy: IEEFA op-ed: Who really owes Puerto Rico’s bondholders—and how much?

Source: Institute for Energy Economics and Financial Analysis Investigation points to negligence and wrongdoing in both the public and private sector One thing that jumps out from the Puerto Rico Financial Oversight Management Board’s (FOMB) recent report on the island’s debt quagmire is the backward nature of the process by which the powers-that-be are determining […]

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MIL-OSI Energy: Oversight Board report suggests range of changes for Puerto Rico utility

By   /  August 23, 2018  /  Business, Commodities, Economy, Energy, English, Exploitation, Exploration, Gas, Global Economy, Industry, Institute for Energy Economics and Financial Analysis, Kobre & Kim, MIL Oil-Energy Sector OSI, MIL OSI, MIL OSI Economics, Mining Sector, News, Newsletter Daily, Newsletter News Weekly, Oil, Oil Rigs, Open Source Intel, PREPA Bonds, Puerto Rico, Puerto Rico Electric Power Authority, Puerto Rico Oversight Board, Puerto Rico-PREPA  /  Comments Off on MIL-OSI Energy: Oversight Board report suggests range of changes for Puerto Rico utility

Source: Institute for Energy Economics and Financial Analysis Bond Buyer ($): The official Puerto Rico Oversight Board report on the territory’s debt recommended changes in budgeting, rating and bond issuance practices, but said it was generally too late to punish anyone over the sale of debt that led to the biggest municipal default. The Oversight […]

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MIL-OSI Energy: IEEFA op-ed: Plan to turn to imported natural gas will cost Puerto Rico dearly

By   /  August 18, 2018  /  Aguirre Offshore Gasport, Business, Commentary, Commodities, Economy, Energy, English, Exploitation, Exploration, Gas, Global Economy, Industry, Institute for Energy Economics and Financial Analysis, MIL Oil-Energy Sector OSI, MIL OSI, MIL OSI Economics, Mining Sector, Newsletter Daily, Oil, Oil Rigs, Open Source Intel, PREPA, Puerto Rico, Puerto Rico-PREPA  /  Comments Off on MIL-OSI Energy: IEEFA op-ed: Plan to turn to imported natural gas will cost Puerto Rico dearly

Source: Institute for Energy Economics and Financial Analysis More ratepayer-subsidized profits for companies well-represented in Congress A series of announcements over the past couple of weeks by Puerto Rican officials signals a new—and misguided—push for greater reliance on imported natural gas for electricity production. If these plans come to fruition, they will saddle Puerto Rico […]

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MIL-OSI Energy: Editorial: ‘Same old trick’ in debt restructuring at Puerto Rico Electric Power Authority

By   /  August 7, 2018  /  Business, Commodities, Economy, Energy, English, Exploitation, Exploration, Gas, Global Economy, Industry, Institute for Energy Economics and Financial Analysis, MIL Oil-Energy Sector OSI, MIL OSI, MIL OSI Economics, Mining Sector, News, Newsletter Daily, Newsletter News Weekly, Oil, Oil Rigs, Open Source Intel, PREPA, Puerto Rico, Puerto Rico-PREPA  /  Comments Off on MIL-OSI Energy: Editorial: ‘Same old trick’ in debt restructuring at Puerto Rico Electric Power Authority

Source: Institute for Energy Economics and Financial Analysis Caribbean Business News: The most recent announcement of a preliminary deal between Prepa and its bondholders includes a transition charge to help pay for a bond exchange with creditor constituencies that do not include the monoline bond insurance companies and the fuel-line lenders. This is akin to […]

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MIL-OSI Energy: IEEFA Update: New debt deal throws Puerto Rico under the bus

By   /  August 2, 2018  /  Business, Commentary, Commodities, Economy, Energy, English, Exploitation, Exploration, Financial Oversight and Management Board for Puerto Rico, FOMB, Gas, Global Economy, Gov. Ricardo Rosselló, Industry, Institute for Energy Economics and Financial Analysis, MIL Oil-Energy Sector OSI, MIL OSI, MIL OSI Economics, Mining Sector, Newsletter Daily, Oil, Oil Rigs, Open Source Intel, PREPA, Puerto Rico, Puerto Rico-PREPA  /  Comments Off on MIL-OSI Energy: IEEFA Update: New debt deal throws Puerto Rico under the bus

Source: Institute for Energy Economics and Financial Analysis A reckless proposal to benefit creditors while sapping the economy In a deal it announced this week between the Puerto Rico Electric Power Authority and some of its creditors, the federal Financial Oversight and Management Board, PREPA and the bondholders are only kicking the can down the […]

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MIL-OSI Energy: IEEFA Update: An influential congressman impedes Puerto Rico’s recovery

By   /  July 24, 2018  /  and Economic Stability Act, Business, Commentary, Commodities, Economy, Energy, Energy Policy, English, Exploitation, Exploration, Financial Oversight and Management Board, FOMB, Gas, Global Economy, House Natural Resources Committee, Industry, Institute for Energy Economics and Financial Analysis, Management, MIL Oil-Energy Sector OSI, MIL OSI, MIL OSI Economics, Mining Sector, Newsletter Daily, Oil, Oil Rigs, Open Source Intel, PREPA, PROMESA, Puerto Rico, Puerto Rico Oversight, Puerto Rico-PREPA, Rep. Rob Bishop  /  Comments Off on MIL-OSI Energy: IEEFA Update: An influential congressman impedes Puerto Rico’s recovery

Source: Institute for Energy Economics and Financial Analysis Rep. Rob Bishop is interfering at the behest of oil and gas interests Rep. Rob Bishop (R-Utah), chairman of the House Natural Resources Committee, has abandoned the sound fiscal stewardship that once made him a leader on fiscal solvency and responsible economic recovery for Puerto Rico. Instead, […]

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MIL-OSI Energy: IEEFA report: Effects of long-running oil-purchase scandal undermine privatization and contract-reform initiatives at PREPA

By   /  July 19, 2018  /  Business, Commentary, Commodities, Economy, Energy, English, Exploitation, Exploration, Gas, Global Economy, Industry, Institute for Energy Economics and Financial Analysis, MIL Oil-Energy Sector OSI, MIL OSI, MIL OSI Economics, Mining Sector, Newsletter Daily, Oil, Oil industry, Oil Rigs, Open Source Intel, Press Releases, Puerto Rico, Puerto Rico-PREPA, Reports  /  Comments Off on MIL-OSI Energy: IEEFA report: Effects of long-running oil-purchase scandal undermine privatization and contract-reform initiatives at PREPA

Source: Institute for Energy Economics and Financial Analysis A scheme that contributed to utility’s ruin and a pattern of whistleblower suppression; Potential new grounds for bondholder claims in bankruptcy proceeding; ‘History is repeating itself in Puerto Rico’ July 18, 2018, SAN JUAN (IEEFA) — A long-running practice in which Puerto Rico’s public utility bought low-quality […]

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MIL-OSI Energy: IEEFA Update: PREPA privatization law invites more contracting scandals

By   /  July 7, 2018  /  Alpine Group, Business, Commentary, Commodities, Economy, Energy, English, Exploitation, Exploration, Gas, Global Economy, Industry, Institute for Energy Economics and Financial Analysis, ITC/Fortis, Kindle Energy, MIL Oil-Energy Sector OSI, MIL OSI, MIL OSI Economics, Mining Sector, Newsletter Daily, Oil, Oil Rigs, Open Source Intel, Puerto Rico, Puerto Rico-PREPA, Rob Bishop, Shell  /  Comments Off on MIL-OSI Energy: IEEFA Update: PREPA privatization law invites more contracting scandals

Source: Institute for Energy Economics and Financial Analysis The door is wide open for conflicts of interest and political hires; New law will not lead to much-needed transformation of energy generation Puerto Rico’s new law to privatize the Puerto Rico Electric Power Authority (PREPA), enacted by the legislature and signed by governor last month, has […]

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