Investment Funds v. A Democratic Future

The Permian Basin, the largest producing oil field in the United States, is located in Texas. JP Morgan is a major shareholder of the Permian Basin and in 2019, through its affiliate, Infrastructure Investment Fund (IIF), successfully acquired the El Paso Electric utility company. The utility is responsible for powering the city and operates three significant gas plants that convert fracked gas into electricity, and JP Morgan saw the acquisition of El Paso Electric as a lucrative opportunity to amplify their profits from the oil and gas industry. Amanacer People’s Project saw it differently. They saw the proposed acquisition of El Paso Electric as a direct threat to climate justice. Despite unsuccessfully blocking the acquisition, Miguel Escoto from Amanacer is optimistic about the region’s prospects for transitioning to democratic control over our energy grid. For additional resources see: https://ilsr.org/building-local-power/

What is Building Local Power?

Building Local Power brings you thought-provoking stories and new ideas for breaking the hold of corporate monopolies and expanding the power of communities to chart their own futures. We deliver insights from trailblazing lawmakers, scholars, business leaders, and advocates. Plus, conversations with in-house experts at the Institute for Local Self-Reliance help reveal the patterns and policies that shape our economy and communities. These stories and conversations help map solutions that distribute power to everyday people.

Our newest series, The Data Centers Are Coming, brings listeners into the stories of local communities fighting back against Big Tech, corporate greed, bureaucratic secrecy, and a system that prioritizes scale at all costs.