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Obama faces resistance in bid to unload popular southern utility giant
Fox News.com ^ | May 29, 2013 | John Roberts

Posted on 05/29/2013 5:22:12 PM PDT by Kaslin

KNOXVILLE, Tenn. – Spring rains cascade over the lip of the Norris Dam in a torrent of white foam and spray. A hundred yards downriver from this concrete waterfall, people stop at the little park to record the scene on their smart phones or digital cameras. It is an image made for a postcard -- a remarkable marriage of nature and technology. And a centerpiece of the Tennessee Valley Authority.

Created in 1933 by President Roosevelt, the TVA brought electricity to Appalachia, with the goal that wiring up Tennessee, parts of North Carolina, Alabama and Mississippi would help bring prosperity to an impoverished region.

But in his new budget, President Obama ordered a strategic review of the TVA with an eye toward selling it to private interests.

Though the TVA operates solely with income from ratepayers, it has a debt of some $25 billion. While that debt is not backed by the federal government, it is included in the overall federal debt numbers.

By selling the TVA, Obama can give the appearance of immediately erasing $25 billion in red ink from the books.

Or can he?

(Excerpt) Read more at foxnews.com ...


TOPICS: US: Tennessee
KEYWORDS: electricity; energy; opec; sheikhdown; tennessee; tn; tva
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1 posted on 05/29/2013 5:22:12 PM PDT by Kaslin
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To: Kaslin

Look for little barry bastard boy to ban the use of coal with TVA providers when sold to private parties. He will, if past behavior is any indication, sell to democrips/democrip donors the TVA means which will be protected from heavy regulations, like the power dam generators. Scum he is.


2 posted on 05/29/2013 5:24:39 PM PDT by MHGinTN (Being deceived can be cured.)
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To: FReepers; Patriots; FRiends
YES!

Donate Here!
FReepathon Day 59!!!

3 posted on 05/29/2013 5:27:21 PM PDT by onyx (Please Support Free Republic - Donate Monthly! If you want on Sarah Palin's Ping List, Let Me know!)
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To: MHGinTN

I despise this arrogant pos more and more every day


4 posted on 05/29/2013 5:29:25 PM PDT by Kaslin (He needed the ignorant to reelect him, and he got them. Now we all have to pay the consequenses)
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To: Kaslin
Papa got a job with the TVA, We bought a washin' machine, and then a Chevrolet...
5 posted on 05/29/2013 5:31:08 PM PDT by arderkrag (An Unreconstructed Georgian, STANDING WITH RAND.)
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To: Kaslin

TVA is the kind of infrastructure agency that the government should be involved in. If its going to be sold sell it to the TVA states! For a dollar.


6 posted on 05/29/2013 5:33:38 PM PDT by ghannonf18
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To: Kaslin

I sure wish the Feds would sell the Bonneville Power Authority, on the Columbia River in the Pacific NW.


7 posted on 05/29/2013 5:42:46 PM PDT by SatinDoll (NATURAL BORN CITZEN: BORN IN THE USA OF CITIZEN PARENTS.)
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To: Kaslin
What a maroon...

Nothing about closing Dept of Ed, Combining EPA and Energy with a 50% downsizing and Selling, Fannie, Freddie, Sallie Mae and Oh Ya, Amtrak...

Instead bust the B@ll$ of an energy company, that you want to nudge into your idological world view of no coal whether it makes sense or not.

He is breaking America to the point I am not sure it can be fixed...

8 posted on 05/29/2013 5:45:27 PM PDT by taildragger (( Tighten the 5 point harness and brace for Impact Freepers, ya know it's coming..... ))
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To: Kaslin

a power plant that is $25 BILLION in the hole??

who the hell was running it?

and why aren’t we thinking embezzlement?


9 posted on 05/29/2013 5:52:30 PM PDT by sten (fighting tyranny never goes out of style)
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To: Kaslin
I despise this arrogant pos more and more every day.

Add to that the fact that he is poisoning the well for race relations and the possibility of any more blacks entering the Office of the President in the foreseeable future.

10 posted on 05/29/2013 5:53:11 PM PDT by stboz
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To: ghannonf18

There’s something surreal about people on a supposedly conservative board opposing privatization of a government agency.

Blind opposition to every single action of an administration simply because of who the President is ends up looking pretty stupid after a while.


11 posted on 05/29/2013 5:53:23 PM PDT by Strategerist
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To: sten
Something is definitely wrong here.

I am not so sure if TVA has one of the lowest electricity rates. It used to have them, that is for sure. I remember paying $5.00-$6.00 a month average, that was in 1967-68. The highest we paid was $18.00 and that was in the winter of 67-68

12 posted on 05/29/2013 6:01:13 PM PDT by Kaslin (He needed the ignorant to reelect him, and he got them. Now we all have to pay the consequenses)
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To: Kaslin

For Federal Government socialism the TVA looks like it works very well. The EPA will be its ruination due to coal plant mandates. The TVA is a producer while the EPA is full of takers. People who take/whose salaries are paid by our tax dollars for doing nothing useful and a lot that is harmful.


13 posted on 05/29/2013 6:01:33 PM PDT by dennisw (too much of a good thing is a bad thing - Joe Pine)
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To: sten
a power plant that is $25 BILLION in the hole??

The TVA is more than just "a power plant", a lot more.

14 posted on 05/29/2013 6:03:00 PM PDT by Michael.SF. (Obama lied, Stevens died, now Obama covers up the lies.)
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To: Strategerist

The TVA put a lot of private power companies out of business. Part of Roosevelt’s war on capitalism. People need to read the Forgotten Man.


15 posted on 05/29/2013 6:08:00 PM PDT by SoCal Pubbie
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To: Kaslin

The rub here is that the TVA has a 30 Billion debt cap.
The new coal regs that go into effect in 2014 are going to cost another 25 Billion.


16 posted on 05/29/2013 6:09:18 PM PDT by PeaceBeWithYou (De Oppresso Liber! (50 million and counting in Afghanistan and Iraq))
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To: Kaslin

People are missing the point, if he sell it the EPA can come in and rip down the dams.

As long as it is part of the government, this is politically impossible.


17 posted on 05/29/2013 6:16:25 PM PDT by dila813
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To: Michael.SF.

Must it be sold as a single entity? Can it be parsed out in units?


18 posted on 05/29/2013 6:17:49 PM PDT by 1010RD (First, Do No Harm)
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To: 1010RD
Must it be sold as a single entity? Can it be parsed out in units?

I would just sell all the assets in an IPO on the stock exchange

19 posted on 05/29/2013 6:43:06 PM PDT by Vince Ferrer
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To: dila813

The dams were built to stop the flooding. Tearing them down would be a disaster


20 posted on 05/29/2013 6:44:07 PM PDT by Kaslin (He needed the ignorant to reelect him, and he got them. Now we all have to pay the consequenses)
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