Cap-and-trade to pay for California bullet train

Climatewire reports:

California unveiled an overhaul of its high-speed rail project yesterday and included a new funding source: revenue from the state’s pending cap-and-trade program.

A revised blueprint for the bullet train, which also cut the project’s price tag one-third to $68.4 billion, described the cap-and-trade proceeds as a “backstop” if other money isn’t available…

8 thoughts on “Cap-and-trade to pay for California bullet train”

  1. The “reduced price” of $68.4 billion exceeds the
    Gross Domestic Product of 170 nations. Spending
    it on a train is simply OBSCENE !!!

  2. Historically, large novel projects like this tend to over estimate benefits by double and underestimate costs by half.
    IF (and that is a BIG “if”) this ever gets done, look for cost overruns in the neighborhood of $50-75 Billion, and ridership at about half of projections.

  3. Look at any public transportation system. It never supports itself without subsidies, especially trains.
    .

  4. Houston built a rail line just so they could attract a Stuporbowl. Don’t recall the actual cost or the estimated cost but it never lived up to expectations. When I left 5 years ago it was still running; usually with only a handful of riders. The biggest impact was so many small businesses were destroyed during construction. No government handouts to those owners.

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