Word: dams
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Dates: during 1950-1959
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...final squeeze was applied by the tight money market, just when Wolfson needed cash more than ever to handle the increasingly big contracts he had taken on, e.g., construction of a $120 million, 1,036-ft. Forrestal-type supercarrier, and a $92 million Priest Rapids Dam with its 631,000-kw. power plant, one of the largest awards ever made to a single contractor...
...Government and private industry share the expense of a dam, with government retaining control of all nonpower aspects, while the company sells the power...
...most obvious results of this policy are shown in the Pacific Northwest, where McKay withdrew Interior Department support for a high federal dam at Hells Canyon. Then the FPC ignored its examiner, who had found that a high dam would provide more power, more flood control, more navigation, and more recreation for the Hells Canyon area than the three low private dams. The FPC granted permission for the three-dam plan...
...Government encourages private industry to develop a dam site by itself...
This is not to argue public power to the exclusion of private power. But private companies are frequently unable to utilize a dam site fully, and wasting the heritage of future generations in this respect is inexcusable. These federal projects pay for themselves through power revenues, and the experience of TVA and the Bonneville Power Administration shows that they stimulate the area's economy so it can pay a larger share of the nation's taxes...