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03/30/10(Tue)01:22 No.492684>>492649 >Fuck domestic high speed rail. If it were as
wonderful as tree huggers want us to believe it is, a private company
would have dug up the capital and built it already. In 1991
the Texas High Speed Rail Authority awarded a 50-year high speed rail
franchise to the Texas TGV Corporation - a consortium of Morrison
Knudsen (USA), Bombardier (Canada), Alstom (France/UK), Crédit Lyonnais
(France), Banque IndoSuez (France), Merrill Lynch (USA), and others.
Texas TGV won the franchise after more than two years of litigation
instigated by a rival consortium backing German ICE technology. The
plan was to connect the "Texas Triangle" (Houston - Dallas/Fort Worth -
San Antonio) with a privately financed high speed train system which
would quickly take passengers from one city to the next at prices
designed to compete with or beat other transport options. This was the
same model Southwest Airlines used 20 years earlier to break in to the
Texas market where it served the same three cities. Funding for the
project was to come entirely from private sources, since Texas did not
allow the use of public money. The original estimated cost was $5.6
billion, but the task of securing the necessary private funds proved
extremely difficult. Southwest Airlines, with the help of lobbyists,
created legal barriers to prohibit the consortium from moving forward
and the entire project was eventually scuttled in 1994, when the State
of Texas withdrew the franchise.
More recently SNCF, Frances
national rail company, has gotten involved in the initiatives to
introduce highspeed rail in the Mid West Chicago Hub area
http://en.wikipedia.org/wiki/Midwest_Regional_Rail_Initiative#2009_SNCF_proposal
, they've priced it at $68 billion and recommend 54% of that be public
and the rest private. The public funds could be recovered from revenues
in about 15 years. |