Opinion for the Court filed by Circuit Judge TATEL.
TATEL, Circuit Judge:
The Federal Power Act of 1920, 16 U.S.C. § 791a et seq., requires licensing of all dams operated on navigable waters for the purpose of generating electric power, except those authorized by a valid pre-Act permit. In this case, we must decide whether two dams are exempt from licensing because their owner operates other dams downstream pursuant to such a permit. The Federal...
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