Skip to comments.Obama faces resistance in bid to unload popular southern utility giant
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 $25 billion in red ink from the books.
Or can he?
(Excerpt) Read more at foxnews.com ...
Look for little barry bastard boy to ban the use of coal with TVA providers when sold to private parties. He will, if past behavior is any indication, sell to democrips/democrip donors the TVA means which will be protected from heavy regulations, like the power dam generators. Scum he is.
I despise this arrogant pos more and more every day
TVA is the kind of infrastructure agency that the government should be involved in. If its going to be sold sell it to the TVA states! For a dollar.
I sure wish the Feds would sell the Bonneville Power Authority, on the Columbia River in the Pacific NW.
Nothing about closing Dept of Ed, Combining EPA and Energy with a 50% downsizing and Selling, Fannie, Freddie, Sallie Mae and Oh Ya, Amtrak...
Instead bust the B@ll$ 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...
a power plant that is $25 BILLION in the hole??
who the hell was running it?
and why aren’t we thinking embezzlement?
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.
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.
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
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.
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.
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.
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.
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
The dams were built to stop the flooding. Tearing them down would be a disaster