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Buffett on Klamath Dam pollution

Buffett & Munger2008-05-03videoOpen original ↗

1 chunks · 1,413 chars · 2 speaker-tagged segments

SpeakersQuestioner1Warren1
[0:00]
QuestionerIn 2002, 68,000 fish died into mouth of the Klamath River due to disease and bad water quality. These fish are also my relations. If another company polluted your river and killed all the fish and made the river unswimmable and unfishable, how would you approach this problem?
WarrenWell, I think society as a whole should approach that problem by looking at the net benefits from, whatever is taking place in that situation and what the cost of electricity would be and what the farmer's situation would be if you went to a different form of water distribution. There are a lot of competing ideas and desires in a large society, and it's up to government basically to sort out those. We're sorting it out, right now we're building coal plants in the country. and gas plants, we're doing various things. People are coming to different conclusions about what kind of trade-offs they want to make. And generally, those are being made at the state level, although you could have a national energy policy that would override individual state's decisions. We're responsible, we're responsive to national policy on that. We're responsive to local policy, the Oregon Public Utility Commission, I'm sure is aware of exactly what you've discussed. And they have to consider that, but they have to consider a lot of other things in determining what is the best way to generate the electricity required for the citizens of Oregon.