ET,
If you want to use a strictly economic analysis and approach, then the salmon and steelhead are finished. The river can generate so much energy that is worth so much money that even the historic Columbia River fish runs could not win that race.
The issue in my estimation is whether we allow BPA/USACoE/BOR to externalize the environmental costs of their project impacts by not fully mitigating them. Without mitigation, the fish - and their owners, U.S. citizens - pay. If the river and its fish were a private property resource, dam owners and operators would be required to fully mitigate at 100% value, the impacts of the hydropower projects. But they are publicly owned resources. Why are we so willing to sacrifice public resources, yet we are absolutely protective of private property resources?
Mitigating project impacts should be simply another part of the cost of doing business. If that principle is good enough for private property, then surely it is good enough to enforce for public property.
Now, why is it BPA should be allowed to kill more publicly owned salmon so they can generate more energy to sell? If you saw yourself as owner of the river and its salmon, would you still be so generous?
Sincerely,
Salmo g.