Editor’s Note: Mr. Glozer is a member of the CRE Board of Advisors
Abstract
The Tennessee Valley Authority (TVA) has had 80 years of independence from the oversight, review, and budgetary control of a more traditional federal agency, as well as from the rigors of a private shareholder-owned utility. It is impossible to claim that the TVA’s intended purpose is not accomplished: The navigation waterway is built, though lightly used; electricity is widely available, though rates are among the highest in the Southeast; and the people of Tennessee enjoy a good standard of living. The most effective way to restore efficiency to the TVA system and to relieve federal taxpayers of a significant liability is to sell the Authority’s assets in a competitive auction. The TVA, its customers, and the U.S. taxpayers would all benefit from rigorous private-sector oversight of the TVA.
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TVA should be sold, but not as Obama wants. His agenda is to kill King Coal as is evident. This will force high rates and high unemployment on the region driving jobs and cash to Mexico and Canada as well as china and Vietnam. If the Feds are so concerned about the sky catching fire then why are Park Service facilities not exclusively solar powered and all vehicles required to be electric? TVA says that switching to electric vehicles is too expensive. Sweet , but they closed coal died power plants to save the earth for more expensive gas, wind, solar, and nuclear power. Maybe a Volt isn’t as sexy for a $6million executive as a Jag.