I have written about this before, but now we have some more details that were released today by the California High-Speed Rail Authority
I was commissioned to write about high speed rail for a regional business magazine in the early 2000s. I dug into the details and it was clear to me that the economic numbers did not make any sense. Telling the editor that my article was going to expose these negative numbers, and it was going to be a negative article, I was give a new assignment. No one wanted to address the real economic issues of high speed rail, until now.
According to an article at the Sac Bee Capital Alert:
GOP Sen. Doug LaMalfa wants to send California’s high-speed rail project back to the ballot in light of revised cost estimates.
The California High-Speed Rail Authority today released a revised business plan projecting that the total cost of the proposed bullet train could be $98.5 billion over 20 years, far exceeding previous estimates.
LaMalfa, a vocal critic of the project, blasted the authority’s earlier cost projections and pledges for federal and private dollars for the project, saying authority members and supporters “have known all along that these targets would not be met.”
This just verifies my initial analysis, the ticket cost was too high when compared to air travel and the ridership numbers could not be justified, base on population and historical use of public transportation. Potential riders would fly or drive before taking a train.
The California voter was misled the first time around. Now that the California High-Speed Rail Authority has come clean on the real cost, it time for a redo by California voters.