TVA SALE?? A way to fund green energy projects? What is "clean and green?"

Some of us are acutely aware the definition of "clean and green" has a variety of meanings to corporate executives and politicians. "Clean or green" may include energy sources which are not sustainable nor clean energy sources, such as expensive nuclear power.


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Tennessee Valley Authority, TVA, Bellefonte Nuclear Plant. No power has been generated from the nuclear plant, construction began in the mid 1970's, construction ended in the late 1980's. The nuclear plant construction license was cancelled in 2006 by the TVA, the two near complete nuclear reactors were cannibalized of their steam generators and other equipment in the same year. The equipment was sold for a reported $49 million.
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Recently the Nuclear Regulatory Commission, NRC, re-instituted the previously cancelled construction license for Bellefonte without 1, one, vote of approval from the Nuclear Regulatory Commission. The vote of the commission was one vote disapproved, 3 votes jointly approved-disapproved. The Chairperson of the NRC, Mr. Jackzo, along with the Senior Staff of the NRC, disagreed with the reinstatement of the construction license calling the decision to reinstate the construction license "unprecedented."
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The violation of atomic safety protocol in licensing of nuclear reactors casts a shadow of doubt over the RELIABILITY of nuclear licensing and the NRC. A case is pending in the Washington D.C. Federal Court concerning this issue.
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Recently a complaint has been filed with the TVA concerning construction of major plant components without the approval of construction of the plant from the TVA Board. A contract was awarded to Babcock & Wilcox Nuclear Energy, Inc. of Canada to manufacture two steam generators. The reported costs are said to be $300,000. The letting of the contract to construct steam generators for the plant appears to have violated several Federal Laws. This gross waste and abuse will cost the ratepayers in excess of $250,000,000. Previous article: http://arklite.blogspot.com/2010/11/tva-plans-to-spend-160-million-on.html


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TVA sale urged to fund green energy projects - timesfreepress.com Chattanooga Times Free Press: "As chairman of the Federal Communications Commission in the 1990s, Reed Hundt pioneered the auctions of the nation's airwaves that ultimately generated more than $40 billion for the federal Treasury and allowed the cell phone industry to flourish."
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"In his current role as head of the Coalition for Green Energy, Hundt is pushing a similar idea he claims could help to both create green jobs and a cleaner environment without costly government subsidies."
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"Hundt, who heads the Coalition for Green Energy, said Thursday the time has come for the federal government to sell the Tennessee Valley Authority [TVA] and use the proceeds to create a private, nonprofit Energy Independence Trust to lend money for energy efficiency and renewable energy projects." (The problem, what is "clean and green energy" for some is not clean, green nor sustainable energy solutions for others, example-nuclear power.)

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The Knoxville Metro Pulse reports on this issue in an article titled, "TVA for Sale:" "From the standpoint of news-cycle timing, the Washington, D.C.-based Coalition for Green Capital nailed it. General Motors’ new stock offering on Wall Street was fresh in its media frame, a rousing success story about how the federal government can actually get back much of the taxpayer money it had invested in a massive (socialist, as conservatives are fond of saying) economic rescue project. Just two days later, the Coalition managed to land a story in some major Tennessee newspapers that basically asked, “Why not try the same thing with that massive (socialist) economic rescue project known as the Tennessee Valley Authority [TVA]?”...On its face, the auction question might seem to have been brewed up by a Tea Party anti-“big government” committee in a back room at Fox News. In fact, the new wave of congressional “No-We-Can’t”-ers, who will soon take hold of the Republic’s purse strings, typically hold in high suspicion, if not outright contempt, the agenda of the group now posing the TVA question. The Coalition for Green Capital represents an assemblage of entrepreneurs, investors, attorneys, financial experts, and policy wonks from the energy efficiency, wind, and solar energy industries. They take credit for doing the legwork that almost carried off the passage of the American Clean Energy Leadership Act, variously referred to as the climate-change bill, the green-jobs bill, or the carbon cap-and-trade bill. Its detractors variously referred to it as the global-warming-myth bill, or, of course, the one-world-socialist-communist-nazi-government bill."

http://www.metropulse.com/news/2010/dec/01/tva-sale/

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Department of Energy (DOE) has allocated the following amounts for specific nuclear projects. (If you will note, Bellefonte is not on this list.) The order of the DOE list is:
Vogtle, Calvert Cliffs (They are going to give a conditional guarantee to the French government, AREVA, for the operation of Calvert Cliffs.), South Texas, VC Summer, Comanche Peak.
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DOE has $10.2 billion in unallocated authority, $7.5 billion will go to Calvert Cliffs, South Texas and VC Summer are next in line. {Provided by Michael Marionette. Executive Director, Nuclear Information and Resource Service, NIRS. http://www.nirs.org/ )

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Historically, there have been other moves to sell the TVA. This time around the movement to sell the TVA could be successful with Mr. Hundt on board. TVA can not afford to proceed with nuclear expansion due to its debt. DOE is reluctant to authorize money for the TVA's further expansion into nuclear power due to TVA debt and mismanagement. A $26 billion debt, a culture of management deceit and a crystal palace bureaucracy has rendered the once great American Project to end the Great Depression and provide electrification and industry in the southeast U.S. is now a liability in the form of a non-accountable government corporation.

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It is revealing to note the support the TVA has from southern Republicans. The reasons for this support are related to the corporate contractors of the TVA funneling money thru PACs and corporate contributions to the reelection campaigns of the southern Representatives and Senators. The southern Republicans demonstrate their love of socialism, as long as the deceitful, bureaucratic system of the non-accountable TVA supports their reelection.

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Unfortunately, the relationship with the TVA for county and municipal governments have become that of a suckling animal depending on TVA in lieu of tax money, which is at a lower tax rate than privately owned public utilities. Many local utilities within the TVA service areas are part of the TVA system, they are called TVA Power Providers Association, TVAPPA. The TVA hides part of their debt within the TVAPPA.

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Ultra-Conservative Republicans which support socialistic corporations such as the TVA are a short step away from fascism.

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If only the TVA would be forthcoming in their disclosures and not foster a system of management deceit with the support of southern U.S. Representatives and Senators in the TVA district. This writer does not believe the TVA, with its current executives, will foster openness and honesty in its management of the TVA. This culture of current management deceit is very disturbing considering risk disclosures and the deceit pandered on local communities in relationship to nuclear power plants. This deceit and the resulting debt may result in ending the TVA.

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More than 15 years ago this GAO Report reveals the mismanagement of the TVA. www.gao.gov/archive/1995/ai95134.pdf Little has changed, the debt is the same, rates have increased, executive management has came and gone, unfortunately a lack of oversight by Congress has resulted in management abuse by the TVA Executives with the blessings of the TVA Board.

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Within the above GAO report a warning was provided on page 47, "The outcome of TVA’s nuclear program could limit capital funds available for needed improvements to its coal and hydroelectric plants." Then there was neglect, now there is negligent inaction resulting in catastrophe. The Kingston disaster and to a lesser extent the Widows Creek fly ash spill are both a result of management failures concerning plant and facility upkeep. TVA employees have related TVA's dam fleet is in serious need of improvement in both facility upkeep and power generation improvements. These failures rest solely on executive management. Yet the "out of touch" TVA Board provides its Chief Executive Officer, CEO, with a healthy financial increase to a $3.6 million compensation package.

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Congress has failed miserably in offering constructive oversight of the TVA. In a private or publicly traded business setting, the actions of the TVA board along with its CEO would be a historical footnote long ago.