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August 30, 2010, Washington, D.C. – Amidst seemingly endless negative news from the economic sector, Puerto Rico recently developed a project named “Via Verde,” which aims to provide a much-needed boost to the Puerto Rican economy. The National Puerto Rican Chamber of Commerce supports the project, whose goal is to construct a natural gas pipeline to distribute an alternative form of energy production throughout the island, as a means to spur economic development.
Although some costs of living in Puerto Rico, such as housing and land costs, are lower than on the U.S. mainland, energy costs have risen to almost double the average U.S. household costs. One of the Governor’s and other legislators’ most important objectives has been to lower those costs and bring much-needed relief to a population who already has an average income lower than any U.S. state. Read the rest of this entry »