As if the California High-Speed Rail Authority (CHSRA) needed any more bad news, yesterday the group tasked by the legislature with reviewing the project released their report. The report slams the CHSRA for having not identifying long term funding solutions, a problem which could hamstring the project for years, and for their “incomplete” business model.
They also note that the increased cost estimates that came out a couple months ago -- while MORE realistic -- still may not be high enough and recommend that the private sector be brought into project in these early stages.
After the report came out the CHSRA fired off their own response to lawmakers. For their part they say the Peer Review Panel members have limited high-speed rail experience and the report is “deeply flawed,” “misleading” and “unfounded.” They attack the panel’s assertion that they haven’t identified long term funding, saying no other transportation projects are fully funded at this stage of the game and to hold CHSRA to that standard is “inappropriate.”
Also inappropriate in their view is the notion that the private sector needs a place at the table. The CHSRA sites numerous worldwide projects in which private sector involvement has failed. So, is this report still more evidence that California’s high-speed rail project has become a boondoggle? Or is their still fight in this dog? Do the pros of high speed rail outweigh the cons?
Guest:
Tom Umberg, Chairman, California High-Speed Rail Authority
Lou Thompson, Member, California High-Speed Rail Peer Review Group