FPC Surprise

The Federal Power Commission, oldest and most vocal of U.S. shortagemongers, last week surprised everybody, blandly forecast a power surplus this year. It estimated the peak load next December at 36 million kilowatts; a total available supply of 44 million kilowatts. Thus FPC reversed its field strategy. Every year since 1935—mostly to prod along its own grandiose power-development schemes—FPC has gloomed that a nationwide power shortage was just around the next weekend.

For the present happy state, nature gets much of the credit. Ample rainfall has filled hydroelectric reservoirs (source of one-third all U.S. power) to the dam tops, in...

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