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LUMA & Puerto Rico's Energy Crisis!
LUMA & Puerto Rico's Energy Crisis! landevideos 0 Visningar • 20 dagar sedan

In the last several weeks, Puerto Ricans have taken to the streets to protest the privatization of electricity services. Their main demand is the cancellation of the contract granted to Luma energy, the company hired to fix Puerto Rico's antiquated power grid.

The protesters have also called for governor Pierluisi's resignation, arguing that he has been supporting neoliberal measures, ignoring the needs of the citizens since his election last year. They also condemned him for repeatedly defending Luma.

People have seen seven consecutive price increases in their electricity bills, but the power service has not improved since Luma took over in June of 2021. Residents on the island have constantly had the deal with unsteady power, low-voltage, and massive blackouts. In April 2022, an island-wide blackout left 1 million people ( a third of the Islands population) without power. Puerto Ricans have denounced these power outages and their effects before.

Luma energy is the company responsible for power distribution and power transmission in the Commonwealth of Puerto Rico. They're also in charge of maintaining and modernizing the power infrastructure. Luma energy was selected by the Puerto Rico public-private partnership Authority, under the auspices of the Financial Oversight and Management Board of Puerto Rico, an oversight board created and forced on the island by the US government.

Luma Energy, headquartered in San Juan, was formed by Canadian utilities limited and Quanta Services, to serve the people of Puerto Rico. The hiring of luma was to mark a new beginning for the island: a 16-year, 1.5 billion dollar experiment with privatization. Luma was contracted to distribute electricity to 1.5 million customers and make badly needed upgrades to the power grid. Also keep in mind that as the result of Hurricane Maria in 2017, FEMA has allocated nearly ten billion dollars in funds for the effort of repairing and updating the power grid.

In the time that Luma has been in charge, problems have worsened by many measures, including numerous sustained power outages and rate increases that have infuriated customers and lawmakers.

Puerto Rico's problems with Luma Energy are also compounded by the fact that its budget is managed by an oversight panel created by Congress in 2016 to rescue the island from a financial crisis created when its government was unable to pay its more than 70 billion dollar debt. Puerto Rico Electric Power Authority supposedly accounted for 9 billion of the debt, and government leaders who had long pushed for privatization saw their chance to create a new model.

By hiring Luma, officials were betting the private sector could come up with solutions where the government had for decades failed. What they discovered however was a private contractor with its own problems.

Many have also argued that the Luma electricity crisis is partly a result of austerity measures imposed by the Fiscal control board on the people of Puerto Rico..They argue that these measures will further hurt poor and working class Puerto Ricans already struggling after the debacles of Hurricane Maria, recurrent earthquakes, the covid pandemic, and the rise in the cost of living. In conclusion, they argue that essential Services should not be exploited for the economic benefit of the ruling class.

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#coquireport #puertoricoenergy #lumaenergy

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Are Puerto Ricans a Race or Ethnic Group?
Are Puerto Ricans a Race or Ethnic Group? landevideos 1 Visningar • 20 dagar sedan

Many Puerto Ricans are often confronted with the statement "But you don't look Puerto Rican" And usually the one making the statement is baffled when you insist that you are.

Puerto Ricans in general vary in how they look..They can be anywhere from pale white, to black in skin color, to all variations in between. This includes hair textures and facial features.

So what are Puerto Ricans? Are they a race or just another ethnic group. Well, it's a bit more complicated and like everything else, you must go to the historical roots in order to make sense of it.
DNA studies have shown that the racial ancestry mixture of the average Puerto Rican is about 64% European, 21% African, and 15% native Taino.

And even a small sample study of self identified White Puerto Ricans and self identified Black Puerto Ricans showed that they all carried a contribution from all three ancestral populations (European, African, and Indigenous Ameridian) Obviously, the proportion of each contribution varied. Correlating with their self identified race, European ancestry ranged to under 20% to over 80%, While African ancestry ranged from less than 10% to over 50%. Amerindian ancestry ranged between 5% and 20% irrespective of self identified race.

So basically, the overwhelming majority of all Puerto Ricans carry a contribution from all three ancestral populations in their DNA which explains the different variations in how we look.

#coquireport #puertorico #boricua

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Are Puerto Ricans being displaced by Tax Act 60?
Are Puerto Ricans being displaced by Tax Act 60? landevideos 0 Visningar • 20 dagar sedan

For Further information on gentrification of Puerto Rico and Tax Act 60 #https://www.youtube.com/watch?v=YGXtWpCOiC8&t=5s
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https://www.youtube.com/watch?v=Qq1zSTS10II

Welcome to Puerto Rico, where a wave of gentrification has property prices rising on an island where 43% of the population live below the federal poverty level..

Many Puerto Ricans say they can no longer afford to stay in their homes with outside investors buying up properties and driving up prices.

Many outside investors buy residential Properties and then resell them at higher prices or turn them into short-term vacation rentals turning entire neighborhoods into airborne carithers and creating a shortage of inventory for local residents.

The creeping gentrification angers many Puerto Ricans who have become increasingly more forceful in questioning how an economy reliant on tax breaks for the wealthy can work for local residents increasingly unable to afford property.

These tax breaks fall under a law known as Act 60, a version of which was initially enacted by the Puerto Rico government under another name in 2012, as the island faced a looming economic collapse. This tax incentive drew more interest after 2017, when hurricane Maria decimated the island. In 2019 the tax breaks were repackaged to attract finance, tech, and other investors.

In 2021, Puerto Rico received over 1,349 applications from people looking to become resident investors. Of those, about 1,000 were approved. In all more than 4,286 applications have been approved since 2012 with more than 35% of them approved in the last 3 years.

Under this law, an investor can qualify for the tax break if he or she has not been a resident of Puerto Rico for at least 10 years prior. The investor must also buy a home to qualify for relief from taxes on capital gains, dividends, income taxes, interest, and revenues from services.

Now an important thing to note here is that the more than 3 million Puerto Ricans already living on the island do not qualify for those tax breaks.

Now keep in mind that those 4,286 applications that have been approved, more than likely are individuals in the millionaire class who have significant resources and money and can buy up a significant amount of the island and in turn drive up residential prices to a point where the average Puerto Rican on the island will find it very difficult to survive.



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How Spain almost lost Puerto Rico in 1598
How Spain almost lost Puerto Rico in 1598 landevideos 0 Visningar • 20 dagar sedan

Full Video: #https://www.youtube.com/watch?v=vPKgTCRA7GE

Queen Elizabeth had been distraught by the defeat of Drake and Hawkins in San Juan, Puerto Rico and wanted to avenge it as soon as possible. In 1598, she tried again and almost captured the island.
This attempt was led by George Clifford, the Earl of Cumberland who came with 21 ships and 1700 men. It was June 16, when Clifford's fleet reached the island; Having learned of Drake's failure, he took a different approach.

#puertorico #spain #britain #coquireport

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