The State of North Carolina has been working for the past year to takeover the dams owned and operated by Alcoa on the western side of the state.  The State wants to seize the private property of Alcoa and operate the dams themselves.  Being all the way over here on the coast, this story has not gotten any attention in our local press.  And I’ll admit, I’m not up to speed on all the ins and outs.  It seems to me, though, that the state seizing private property so that it can perform the same work that the private enterprise is performing because it thinks it can do it better, is obscene. It is the very same thing that Hugo Chavez is doing in Venezuela.  The taking of private property by a Government because it wants to manage and operate the property ‘for the people’ is called communism.

According the Carolina Journal, Alcoa purchased land and built four dams on the western side of the state to provide power to its Badin manufacturing facility.  The plant opened in 1917 and closed in 2002.  The electricity from the dams is now sold on the open market.  The dams operate under a license issued by the Federal Govt.  The license was renewed once in 1958 and Alcoa sought to renew it again in 2008.   That’s when the State of North Carolina decided that they could better manage the dam and started to put a structure in place to do that.  Besides the idea of the state seizing property being communistic, does anyone seriously think that our kleptocracy in Raleigh would manage these dams in a responsible way, that politics and corruption would not be rampant?  Look at New Orleans.  The commission that managed the levies in  that town was rife with corruption.  In addition, if NC were to seize the property, it would have to pay fair market value which would be in the neighborhood of $500 Million. Sounds like another tax increase in the making.

Check out the article linked above for an easy to understand summary of the controversy.  Carolina Journal has also done whole series on this unprecedented takeover.

What do you all think of our state seizing private property so that it can own and operate the facilities themselves?  Is this socialism?  If it can do it to Alcoa, what’s to stop it from doing it to any other company in the state?  I think this is a very slippery slope…