Dams and Our Economy

The actual prices of huge dams were ninety six over the estimate, on average, and implementation took a quarter mile longer than scheduled. The new report therefore expressly states that enormous dams aren't economical: "We realize that even before accounting for negative impacts on human society and setting, the particular construction prices of huge dam’s square measure too high to yield a positive come."

The study is predicated on the foremost comprehensive economic analysis of huge dams ever undertaken. "Large dams" refers to dams with a wall height in far more than 15m.

Since 1934, no improvement in economic assessments

The study that is predicated on a stratified sample of 245 giant hydropower dams’ inbuilt sixty five totally different countries between 1934 and 2007 concludes that value and time overruns haven't improved over time.

"Dam budgets these days square measure as wrong as at any time throughout the seventy years that information exist", aforementioned Atif Ansar, an author of the study. "Dam planners appear to not learn from the past.

"For example, Brazil's" Itaipu dam, inbuilt the Seventies, suffered a +240% cost that impaired the nation's public finances for 3 decades. Despite manufacturing much-needed electricity, Itaipu can doubtless ne'er pay back the prices incurred to make it.

"Regardless, Brazil is presently building the moot Belo card game electricity project that has verified non-viable even before gap and awaits a fate like Itaipu's. China, Indonesia, Asian country and different nations show similar amnesic behavior concerning the building of dams."

The study cites 2 reasons for these vast value and time overruns: first off, each specialists and laypersons square measure consistently "too optimistic regarding the time, costs, and edges of a decision". Secondly, project promoters deceive the decision-makers and therefore the public with strategic misrepresentations.

Professor Bent Fly berg, additionally an author, commented on the causes of the extremely inaccurate budgets for dams: "Experts creating forecasts regarding megaprojects are often usefully sorted into 'fools' or 'liars'.

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