W. A. C. Bennett's Two Rivers policy aimed to develop the hydroelectric potential of both the Peace and Columbia Rivers simultaneously. The policy stemmed from Bennett's desire to wrest control of resources away from the federal government in regards to power development in the province. Bennett and the American company Kaiser Aluminum and Chemical Corporation of the United States had agreed that in return for a fifty-year water license, the Kaiser Corporation would construct a large dam on the upper Columbia River. Not only would they pay for the construction, they would also return 20% of the electricity generated to British Columbia and pay the provincial taxes as well as water license fees. Much to Bennett's dismay, the federal government of Canada dissolved the deal by asserting its right of control over international waterways and took over negotiations with the United States. It would appear that British Columbia was not to be allowed to sell electricity to America for provincial profit.