By The Star Staff
U.S. Rep. Jeff Hurd (R-Colo.) has been selected as the new chairman of the House subcommittee overseeing Puerto Rico.
The 45-year-old freshman lawmaker from Grand Junction, who represents Colorado’s 3rd Congressional District after four years of representation by U.S. Rep. Lauren Boebert, will chair the Subcommittee on Indian and Insular Affairs, which is part of the House Committee on Natural Resources.
Hurd has reportedly said that in Congress he will work to secure the border, grow the energy economy in Colorado’s 3rd District, and protect the state’s water and agricultural resources.
He worked for Sullivan & Cromwell LLP (S&C), an international law firm that has advised clients in Puerto Rico on a variety of matters, including credit leveraged finance, airports and environmental transactions.
For instance, S&C advised the U.S. Department of Energy on a loan guarantee to finance solar energy projects in Puerto Rico. Also, S&C represented a consortium in the bid for a long-term concession at Luis Muñoz Marín Airport in San Juan years ago.
“Notably, Chair Hurd clerked for the chief judge of the 10th Circuit & worked at Sullivan & Cromwell. He’ll have no problem comprehending the Prepa (Puerto Rico Electric Power Authority) litigation mess,” noted Cate Long, who leads a research service for Puerto Rico bondholders.
The PREPA bankruptcy has been in a stalemate for over a year as certain bondholders and the utility have failed to reach a settlement over the utility’s $9 billion debt. The case mediators on Thursday reported that they spent only 20 hours in mediation over the past month.
In the area of energy, Hurd “supports the responsible development of energy resources” in his home state, including “some of the cleanest oil and natural gas molecules in the world,” according to his campaign website.
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