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Posted on 2/9/26 at 5:54 pm to Cosmo
quote:
Now, 50% of Puerto Ricans are on welfare.
Sounds like Louisiana
Similar demographics.
Posted on 2/9/26 at 5:56 pm to Night Vision
quote:
We had an AFB there, but it closed down in the late 90's or so.
A local politician started a protest because we were bombing islands off the coast for practice. All hollywood got involved including oprah.
The US govt closed the base, cleaned up the small islands and gave the lease to the local politician.......................................................
Who built resorts and made a fortune.
It was all a scam to get unbelievable beaches for a song. And never a peep from hollywood cause they all looked like fools.
I bet if we researched USAID probably gave them grants to build the hotels.
Posted on 2/9/26 at 5:57 pm to dafif
quote:
I went to the El conquistador resort many years ago and it was fantastic
Nice place, and a good little town within walking distance with a few restaurants and canoes to take out to see the bioluminescent bay.
Now the resort staff will tell you there are wild dogs that will attack you if you try to walk to the town, but that's a lie.
Posted on 2/9/26 at 6:03 pm to stlslick
quote:Nah, that's definitely the Hatians. PR is generally a shithole, but Haiti would have to be 100 times better than it is now just to reach shithole status.
they are the dirt bags of the carribean
the somalians,albanians,etc of the world
Posted on 2/9/26 at 6:12 pm to UptownJoeBrown
quote:
We should give them their independence and be done.
So the Chinese can move in ? PR is to strategically important to piss away, like we did with the Philippines
Posted on 2/9/26 at 8:14 pm to goatmilker
quote:
Got anything to share in the last 50 years?
PR had a thriving refining/petrochemical industry until the early 1980s The government owned electric utility raised the rates for industry to lower the rates for residents. Plants closed in a domino effect. Union Carbide had to close its largest complex of the entire company. The resulting dismantlement /demolition project was the largest in history of a single complex. Union Carbide never fully recovered financially even though it remained the 2nd largest chemical company in the world until being bought by Dow Chemical.
Those were all union jobs too.
Posted on 2/9/26 at 8:22 pm to anc
What about the cockroaches? Fred Sanford warned us about Julio and his crew bringing them Puerto Rican cockroaches here back in the 70’s. He said Harlem was a paradise until the Puerto Ricans moved in and ruined it.
Posted on 2/9/26 at 8:25 pm to anc
quote:
The Puerto Rico problem
Doesn't have to be a problem. Let them become an independent nation. Of course, I'd argue they've got a sick deal as a tax haven and not getting the worst parts of Monroe Doctrine enforcement. Independence just means the US will be trying to undermine their sovereignty one way or another so this unincorporated territory arrangement is pretty slick for them.
Posted on 2/9/26 at 9:38 pm to CitizenK
I think I corrected the. cause for shutdown once before for you. The trigger was R Reagan doing away with the mandatory pricing differential between US and foreign sourced oil. PR had a money machine because the site used 20% cheaper foreign raw material without a penalty to sell products into the US market. Then another special status allowed the PR site to ship the cash profit back to US tax free.
PREPRA had a lot of problems then as now, but that was not the reason for economic failure.
The Bhopal disaster is what caused UCC to go from 120,000 employees to 15,000. The rest of it died when the CEO negotiated a high priced buyout of another chem company using the Kuwait venture as a source of funding. Chem market tanked, CEO had no op out clause in the purchase, and Kuwait backed out of funding do to market collapse. CEO forced into very, very expensive loans than was the end.
PREPRA had a lot of problems then as now, but that was not the reason for economic failure.
The Bhopal disaster is what caused UCC to go from 120,000 employees to 15,000. The rest of it died when the CEO negotiated a high priced buyout of another chem company using the Kuwait venture as a source of funding. Chem market tanked, CEO had no op out clause in the purchase, and Kuwait backed out of funding do to market collapse. CEO forced into very, very expensive loans than was the end.
Posted on 2/9/26 at 10:24 pm to Trevaylin
quote:
I think I corrected the. cause for shutdown once before for you.
PPG was the first to shutdown and it was 100% due utility cost. This started the domino effect with a symbiotic relationship among the chemical producers using refined products. Naphtha was used for ethylene cracker feedstock. After the local chemical plants shutdown, the economy for Corco was shot.
Sun did continue to operate the Yabucoa refinery. Hess continued to operate the St. Croix refinery which was the largest in the world at that time, both supplying the East Coast with fuel. In the case of Sun, it also made base oil for lubricants. Hess also supplied a cat cracker and downstream units for that process in New Jersey, which was not a complete refinery.
Later Shell CHEMICAL purchased the Sun refinery which was designed for Brent crude, it was a gassy AF crude oil and the reason Shell bought it was to supply the ethylene cracker at Norco with naphtha. This is also why Shell CHEMICAL bought the Enjet refinery at St. Rose, LA and the Louisiana Land and Exploration refinery at Saraland, AL.
Posted on 2/9/26 at 10:29 pm to Trevaylin
quote:
The Bhopal disaster is what caused UCC to go from 120,000 employees to 15,000. The rest of it died when the CEO negotiated a high priced buyout of another chem company using the Kuwait venture as a source of funding. Chem market tanked, CEO had no op out clause in the purchase, and Kuwait backed out of funding do to market collapse. CEO forced into very, very expensive loans than was the end.
Bhopal was majority owned by the Indian government but had the UCC name.
You must mean Equate in Kuwait or some such name as I remember.
I used to work with management based in South Charleston a LOT in the 1980s. UCC was a good company for to bid to. 5 bids and if one was real low it was thrown out as a cherry picker. Dupont had handled bids the same way until the Bronfmans took over. Then it became 20 bidders hoping that one had screwed up and bid wayyyyy to low.
Posted on 2/9/26 at 10:29 pm to Trevaylin
quote:
PREPRA had a lot of problems then as now, but that was not the reason for economic failure.
Prepa doesn’t exist anymore. It’s a private JV that Quanta manages.
Posted on 2/9/26 at 11:36 pm to anc
quote:
The Puerto Rico problem
An independent PR would quickly align with China or Russia
Posted on 2/10/26 at 1:34 am to anc
60% of Guam is on Welfare. And uncle Sam Funded 65%of the Guam Government. The Lt governors family is got theft charges on his husband and sister
Send the Federal government to Audit this place
Send the Federal government to Audit this place
Posted on 2/10/26 at 2:39 am to Jasharts77
This is what killed PR economy....
In subsequent years over half a million PRs moved to Florida, Florida now has 1.2 million (larger than NY). Mostly middle class which left PRico with a bunch of thiefing politicians at the top and a lot of freeloaders at the bottom.
The median for welfare assistance in the US is 13%, Puerto Rico ranks number one with 47%.
quote:
The federal tax law change that most severely damaged Puerto Rico's economy was the repeal of Internal Revenue Code Section 936. Signed into law in 1996 and fully phased out by 2006, this provision allowed U.S. corporations to operate in Puerto Rico tax-free, creating a manufacturing boom and a reliance on U.S. investment that vanished when the incentive was removed.
In subsequent years over half a million PRs moved to Florida, Florida now has 1.2 million (larger than NY). Mostly middle class which left PRico with a bunch of thiefing politicians at the top and a lot of freeloaders at the bottom.
The median for welfare assistance in the US is 13%, Puerto Rico ranks number one with 47%.
Posted on 2/10/26 at 12:09 pm to Trevaylin
Prepa boilers were fuel oil fired and supplied by Corco
Posted on 2/10/26 at 1:02 pm to CitizenK
Not exactly right again, PPG vinyl chloride and ethylene glycol plant were to receive ethylene from Puerto Rican Olefins plant. PR Olefins was a steam utility design disaster, that planned on using furnace byproduct steam to boot strap up the large turbine driven compressors, without auxiliary boiler startup capability .
The start up process took several days, and with Prepa electrical reliability, they really never operated much.
PPG cause for failure was lack of a secure source of ethylene
The start up process took several days, and with Prepa electrical reliability, they really never operated much.
PPG cause for failure was lack of a secure source of ethylene
Posted on 2/10/26 at 2:45 pm to Trevaylin
While that may be part of the reason, PERPA got its fuel from local refineries as No. 6 oil, especially from Corco. Corco also relied on the nearby petrochemical plants to sell products to, BTW, I have been in Point Comfort, TX City and of course Taft.
Side note. An older friend won a bid to take down a small unit in TX City built during WWII. He was upset that condenser bundles were white metal instead of copper in the drawings. Turned out they were sterling silver so he STFU. This was during the time that the Hunts were trying to corner the silver market and prices soared. Carbide sure liked to use copper a lot while others used stainless in columns in similar service.
Side note. An older friend won a bid to take down a small unit in TX City built during WWII. He was upset that condenser bundles were white metal instead of copper in the drawings. Turned out they were sterling silver so he STFU. This was during the time that the Hunts were trying to corner the silver market and prices soared. Carbide sure liked to use copper a lot while others used stainless in columns in similar service.
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