Sunday, August 9th 2020We don’t expect Warren Buffett to keep tabs on the inner workings of all the companies he owns. But he needs to know what is going on right now with one of them: Portland-based PacifiCorp. That’s because Buffett and PacifiCorp have an opportunity to simultaneously do something extraordinary for one of the great rivers of the West while making a very prudent financial decision for ratepayers and shareholders.
After decades of controversy and campaigning by area tribes, fishing and environmental groups, what is likely the largest dam removal project to date worldwide is poised to commence on the Klamath River in far-Northern California and Southern Oregon. Four aging hydropower dams are on the brink of being removed, reconnecting hundreds of miles of habitat for salmon and other species blocked for more than a century by dams built without fish passage. In addition, the improvements to water quality and fisheries that will result from dam removal help reduce regulatory burdens on area farmers and ranchers.