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High speed rail projected to LOSE $500 million/year

2,474 Views | 13 Replies | Last: 7 yr ago by jeffdjohnson
veritas47
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I saw this quote on the Aggieland board and thought it was appropriate to discuss here in DFW.

"In spite of their large and growing populations, Dallas and Houston are poster children for big cities where high-speed rail has no chance of succeeding without public funding unless land use and transit patterns change dramatically.

http://reason.org/news/show/texas-high-speed-rail-caution

There is a pdf of the full report on that site that calculates Texas Central Rail having annual deficits of $500 million for their first 40 years of operation and their claim of "no taxpayer funding" is a falsehood since they are applying for government guaranteed loans to pay for construction.

Does Texas Central Rail remind anyone of the Simpsons Monorail episode?"
powerbelly
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AG
Bobbyboy04
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Public funded works projects are cool and good, but $500 MILLION? I guess I'll never get to ride a bullet train unless I travel overseas
TriAg2010
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Bobbyboy04 said:

Public funded works projects are cool and good, but $500 MILLION? I guess I'll never get to ride a bullet train unless I travel overseas


Not just $500 million. $500 million per year. Forever.

I've rode lots of bullet trains. They're just intercity trains at the end of the day. Amtrak Acela is pretty much indistinguishable from European bullet trains.
dcbowers
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veritas47 said:

I saw this quote on the Aggieland board and thought it was appropriate to discuss here in DFW.

"In spite of their large and growing populations, Dallas and Houston are poster children for big cities where high-speed rail has no chance of succeeding without public funding unless land use and transit patterns change dramatically.

http://reason.org/news/show/texas-high-speed-rail-caution

There is a pdf of the full report on that site that calculates Texas Central Rail having annual deficits of $500 million for their first 40 years of operation and their claim of "no taxpayer funding" is a falsehood since they are applying for government guaranteed loans to pay for construction.

Does Texas Central Rail remind anyone of the Simpsons Monorail episode?"


I bet you work for Southwest Airlines.
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YouBet
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Absolutely stupid idea in every way. We have another thread on here where we've debated this pretty recently, I think.
ac04
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i'm not a CFO or anything but that seems bad
Joe Schillaci 48
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dcbowers said:

veritas47 said:

I saw this quote on the Aggieland board and thought it was appropriate to discuss here in DFW.

"In spite of their large and growing populations, Dallas and Houston are poster children for big cities where high-speed rail has no chance of succeeding without public funding unless land use and transit patterns change dramatically.

http://reason.org/news/show/texas-high-speed-rail-caution

There is a pdf of the full report on that site that calculates Texas Central Rail having annual deficits of $500 million for their first 40 years of operation and their claim of "no taxpayer funding" is a falsehood since they are applying for government guaranteed loans to pay for construction.

Does Texas Central Rail remind anyone of the Simpsons Monorail episode?"


I bet you work for Southwest Airlines.
Or is a member of the Grimes County Property Owners Association.

Why should anyone care if they are using private money?

BTW did OP use a government guaranteed loan to pay for education or purchase a home?

ghollow
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Be careful what you read and believe
DannyDuberstein
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If a government agency came up with the $500 million loss estimate, then you can pretty much quadruple how much the loss would really end up being.
veritas47
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The HSR people are making the misleading claim that their project would be entirely privately funded, while quietly stating that they'd need a Solyndra-style federal loan to build.

Even though it's NUNYA, my student loans were 100% bank financed & paid in full.
Decay
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Private financing just means that when the incredible costs get slowly repaid, it goes to foreign entities instead of our own state/gov. How's SH130 doing these days? Making italians a ton of money right?
Aggie1
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Quote:

WASHINGTON
Texas is closer than ever to building the first high-speed train in the United States, thanks to President Donald Trump's fascination with these transportation projects and a well-timed pitch to his administration.
Now developers nationwide are looking to the privately owned Texas Central Railway as a test case of what can get done with Trump in the White House.
Former Houston Astros owner Drayton McLane Jr., a member of the company's board of directors, met recently with Transportation Secretary Elaine Chao in Washington.

Read more here: http://www.star-telegram.com/news/politics-government/article137570578.html#emlnl=Daily_News_Update#storylink=cpy


TexAg15
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The attitudes on this subject on here versus the Houston board contrast rather interestingly.
jeffdjohnson
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Self driving cars will make this idea antiquated and obsolete.
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