Editorial: Buffett and Klamath dams
Warren Buffett didn’t become the most respected investor in the country and one of its richest men by being stupid. So it’s not surprising that on Saturday he rejected a demand to have Pacific Power, which his company owns, tear down four hydroelectric dams on the Klamath River.
The reason for his refusal was that he promised regulators, when Berkshire Hathaway acquired the company, that he would not interfere with its operations. He might also have said or at least thought that it would be stupid to shut down this source of electricity in an age when demand for electricity is increasing and generating it with fossil fuels is increasingly a bad and costly idea.
Indian tribes in the Klamath region as well as coastal salmon fishermen blame the dams for scarce water and a decline in fish. But the dams have been there for the better part of the last half century, and the fish problems are current.
Opponents of the dams keep arguing that the electric energy they produce can be saved by conservation, such as better insulating every house and buying new and more efficient appliances. Sure, but even if the same amount was conserved, it would still be useful because it could replace energy that is now produced by burning natural gas, a fossil fuel that has soared in price owing to the very demand that increased electric generation places on it.
Just now, our transportation system is under pressure because of the price of gas, and the industry is promoting a conversion to all-electric vehicles. Those vehicles will have batteries that need to be charged. That’s a future load we should keep in mind as we figure out how to generate all that juice.
One of these days, all the power the West Coast needs may be generated by tapping the wind in the hills or the waves off the coast, or by converting sunlight directly to electricity. But that day is nowhere close.
And until it is, it would be madness to shut down dams that contribute the kind of reliable power that people need in modern life. (hh)
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