What’s the high speed rail in Claifornia? A state backed project connecting Los Angeles and San Francisco.
California has been looking for building partners and the responses questioned the state financing. The issues raised:
- whether fare revenues would cover operating costs
- can this be done without public subsidies, which the project is prohibited by law from using?
- can the first 300-mile segment between the San Fernando and Central valleys turn a profit like the project claims? questionable.
What is California’s financial obligation to the project?
- California will provide up to $500 million per year until at least 2020
- The funding source will be “from money it expects to collect from companies to offset carbon emissions”