In his memorandum, Jensen merely hinted at an answer; it may have sounded so good he didn’t believe it himself. “The cost of such Colorado River supply,” he wrote, “is to be paid out of the first power revenues. The remaining power revenues would be available for assisting in the payment of the main program or project, and water revenues would pay part of the cost.” Apparently, Jensen was promised by Udall and Dominy that the power revenues generated by the dams that would be part of the import scheme were going to subsidize the price of water before they even began to pay back the cost of the
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