Foreign Companies Buy U.S. Roads, Bridges

NewsMax ^ | 15 July 06 | NewsMax Staff

[fr4tad]

Roads and bridges built by U.S. taxpayers are starting to be sold off, and so far foreign-owned companies are doing the buying.

On a single day in June, an Australian-Spanish partnership paid $3.8 billion to lease the Indiana Toll Road. An Australian company bought a 99-year lease on Virginia's Pocahontas Parkway, and Texas officials decided to let a Spanish-American partnership build and run a toll road from Austin to Seguin for 50 years.

Few people know that the tolls from the U.S. side of the tunnel between Detroit and Windsor, Canada, go to a subsidiary of an Australian company — which also owns a bridge in Alabama.

[fr4tad]

Ports and airlines and roads!! Oh My!!!

[Rodney King]

This is a good thing. What better than to sell items that foreign countries can't actually posess? Are people afraid that during a war or something the spanish might close the road and send an army to keep it closed?

[Mo1]

So Illinois lawmakers are examining privatizing the Illinois Tollway, New Jersey lawmakers are considering selling 49 percent of the state's two big toll roads and a gubernatorial candidate in Ohio wants to sell the turnpike.

Jersey is going to give up their tolls??

[who knows what evil?]

We might offer a tunnel in the Boston area for sale...needs work; sold "as is". Maybe France would be interested?

[Doogle]

Jersey is going to give up their tolls??

..shuuuush, we're going to sell it to a small bank in the Cayman's...shuuushh!!

[Alberta's Child]

The timing of these announcements with the 50th anniversary of the U.S. Interstate Highway System isn't a coincidence. The plain truth is that major elements of the U.S. highway system are reaching the end of their design life, and this country simply doesn't have the financial means to rehabilitate/upgrade it through existing revenue streams.

[Hazcat]

LOL!

[NormsRevenge]

You're right, possession is 9'thenths of the law.

I wonder how international law may come into play as these divestments/investments proliferate?

How will disputes be handled, here or at a World Court, or thru the WTO?

[Mo1]

LOL!

[mtbopfuyn]

Fine by me. When we get mad at them and kick them out they can't take a road with them.

[Last Dakotan]

Fruits of our trade deficits.

[DoughtyOne]

State taxes on gasoline are supposed to pay for roads. When people sign off on toll-roads, they are double-paying. They are essentially giving the state permission to divert at least some funds to other pet (read that liberal) causes.

[Ben Ficklin]

Notice that the first line of the article says sold and the second line says lease.

[calcowgirl]

Coming to a neighborhood near you!

This is the cr@p they are pushing in conjunction with the upcoming transportation bond under the term "public private partnership."

Four new toll roads to be authorized by the Department of Transportation or regional transportation agencies, entering into "comprehensive development lease agreements." The foreigners are already lining.

[zeugma]

This has alrready been posted but the thread was kind of dying. Might want to check the discussion there too. Good stuff on the thread.

[calcowgirl]

Some experts welcome the trend. Robert Poole, transportation director for the conservative think tank Reason Foundation, said private investors can raise more money than politicians to build new roads because these kind of owners are willing to raise tolls.

Institute tolls and then raise tolls--on roads that we already pay taxes for.

[DoughtyOne]

I suspect this is an end run on folks who think toll roads should be abolished.