more money to waste for the ridiculous “bullet train to nowhere”:
12 Mar: CNBC: California’s $77 billion ‘bullet train to nowhere’ faces a murky future as political opposition ramps up
A business plan shows the project’s baseline cost is $77 billion, up 20 percent from two years ago. Its opening date has been delayed four years, too.
by Jeff Daniels
Although it has been dubbed a “bullet train to nowhere,” California Gov. Jerry Brown has pushed forward over the years with the state’s high-speed rail project. But now the day of reckoning may come sooner than expected for the state’s most expensive infrastructure project...
Last summer, the state legislature voted to extend California’s cap-and-trade program through 2030, but critics say revenue from the greenhouse gas-emissions reduction program still won’t be enough to fund the high-speed rail project...
Coupal said the private-sector money “isn’t there since no sane investor would ever put money into this thing, and the federal government cut off the spigot a long time ago. So Governor Brown is relying on the cap-and-trade revenue, although that isn’t generating enough revenue to keep this thing going.”...
https://www.cnbc.com/2018/03/12/californias-77-billion-high-speed-rail-project-is-in-trouble.html