Knoxville big loser if TVA leaves
June 13, 2014
So, the unrevealed writers of the Knoxville News Sentinel editorial board believe that the million dollars paid by TVA for the financial justification of the continuance of TVA “should be enough to convince the Obama administration to scuttle the idea.” There is no proof that the ad hoc conclusions of Lazard Frères were not previously known or reasonably expected, but the suspicion is there.
Knoxville, headquarters for TVA, stands to lose many federal jobs in the latest iteration of TVA’s fits and starts. To suggest that private investors would have run the 80 year old anachronism the way TVA has been run, is absurd.
Also, the Lazard survey concentrated on the fiscal aspects of TVA comparing it mostly with investor-owned utilities and not fully recognizing the comparisons between oranges and apples is not valid. A federal agency, particularly TVA for its place in the government hierarchy, has often been compared to private industry, a non sequitur. And nowhere did it mention anything about TVA’s now recognized constitutional question.
It’s at http://www.thecre.com/insurance/?p=1293 where you’ll see a thorough debunking of the Lazard study. And by no less than a former executive with the OMB. For the past two years, OMB has suggested TVA’s assets should be sold; that TVA has outlived its “usefulness.”
But behind Obama’s desire to kill TVA is really his pledge to kill the coal industry. With TVA out of the way, he can fully let loose the EPA to do their dirty work in the whole country. The sudden cessation of the use of coal would, probably, near term, devastate the U. S. Economy; all in the name of “global warming.”
Maybe the people in the Shoals area of north Alabama feel a little revenged since the headquarters for TVA was (and is) the location prescribed in the TVA Act of 1933.