@ Khandro This is a pretty basic info resource, but is quite illuminating, I think. In it, they discuss the use of water wheels to generate electricity. The conclusion appears to be that it simply cannot generate sufficiently large quantities of electricity for anything other than a local solution.
From the article linked to;
"Another run-of-the-river design uses a traditional water wheel on a floating platform to capture the kinetic force of the moving river. While this approach is inexpensive and easy to implement, it doesn't produce much power. The entire Amazon River, if harnessed this way, would produce only 650 MW of power."
http://www.kids.esdb.bg/hydro.html
(I haven't checked the math they use for the power output calculation, but it sounds about right.)
Any medium term power solution for global energy requirements is going to take a mixture of solutions, ranging from increased energy saving and energy efficiency systems, through to renewable energy, nuclear fission in the shorter term and hopefully nuclear fusion in the medium to long term.
Fracking, despite some of the issues surrounding it, will inevitably play a part; Given the available volumes around the globe, I cannot see any country ignoring such an energy resource, even given the possible impact it might have on climate change.