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CNBC reported that after investing $50 million in plans for a natural gas pipeline, Puerto Rico’s government has opted not to go through with the project.
CNBC reported that after investing $50 million in plans for a natural gas pipeline, Puerto Rico’s government has opted not to go through with the project.
As quoted in the market news:
The decision comes four months after a government-appointed committee rejected plans for the pipeline that would have bisected the island, and offered three alternatives.
The pipeline would have originated in southern Puerto Rico and traversed 235 rivers and wetlands, bisecting the island as it veered east toward the capital of San Juan. Critics said it would have damaged fragile ecosystems and archaeological sites and exposed people to deadly explosions.
Government officials said they will consider other natural gas alternatives and expect to choose a new project by mid-2013.
Click here to read the full CNBC report.