THE AMERICAS
FEMA’s Foul-Up in Puerto Rico
The emergency plan depended on generators but diesel was not delivered.
Mary Anastasia O'Grady writes "The Americas," a weekly column on politics, economics and business in Latin America and Canada that appears every Monday in the Journal. Ms. O'Grady joined the paper in August 1995 and became a senior editorial page writer in December 1999. She was appointed an editorial board member in November 2005. She is also a member of the board of directors of the Indianapolis-based Liberty Fund.
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Puerto Rico’s government-owned electricity monopoly—known by the acronym Prepa—filed for bankruptcy protection July 2. It did so even though it had negotiated a restructuring agreement with creditors that would have saved $2.2 billion in debt service that could have been used to invest in modernizing the utility.
