Seven reasons TVA will not be privatized
February 20, 2009
As matters beyond their ken continue to crash down on the Tennessee Valley Authority and the White House daily confirms its real intent to nationalize everything in sight, it is becoming startlingly clear that it is ridiculous to believe the Obama administration would even think about reducing or eliminating a federal agency.
Every action taken to date reinforces the true intention of the administration to nationalize our financial and industrial economies. With the TVA an already nationalized large chunk of electricity production, the only question is how best to organize it to fit the Obama mold. Here’s how it could be done:
1. TVA’s financial crisis best can be resolved by Executive Order similar to the one just signed forming the White House Office of Urban Affairs. This one could be called the Office of Utility Nationalization.
2. TVA’s staff and operations would remain intact and eventually organized into the normal federal government system of employment and benefits.
3. TVA would be placed under the Department of Energy as an agency.
4. TVA’s debt has become unmanageable and must be assumed by the federal government including all fines, federal court orders, bonds and all existing and forming legal suits stemming from the Kingston disaster. The total could exceed ten billion dollars. The Troubled Assets Relief Program (TARP) could be an immediate vehicle to infuse the necessary capital and to reduce electricity rates.
5. The TVA Agency would request and receive necessary appropriations as a regular federal budget item.
6. Rate increases requested by the TVA would require approval of the DOE; however, the first step would be to reduce rates.
7. Temporarily and by Executive Order, TVA immediately would come under the control of a TVA Czar who would put in effect all the tools of the federal government including the Federal Emergency Management Agency (FEMA).
Ernest Norsworthy
emnorsworthy@earthlink.net
http://norsworthyopinion.com