Gov. Jerry Brown at ceremonies in Fresno launching construction of California's bullet train. (Photo: Associated Press)FRESNO — Amid the debris and grit of a downtown Fresno site, Gov. Brown formally launched construction of California’s $68 billion bullet train, a project that — maybe — will link San Francisco with Los Angeles through the state’s farm belt within two decades.
In an artist's rendering, California's proposed bullet train zips along the Central Valley. (Illustration: High Speed Rail Authority)California’s $67.5 billion bullet train has been described as “off-track” so long that some thought it was permanently derailed. In fact, the outlook has brightened: A series of court decisions, a move by Gov. Brown to pump money into the effort and an awakening interest from high-dollar investors has given the huge project new momentum.
A powerplant at sunset. (Photo: David Crockett)OPINION: So, while the program is certainly generating revenue for the state, is it working? Eighteen months in, it appears the answer is yes. Firms affected by the requirements say that they are paying attention to it, that they believe it’s here to stay, and that it’s prompted them to look at ways to reduce emissions. In recent interviews with cement industry stakeholders we learned that companies are factoring the carbon price into their analysis of investment opportunities.
A computer-generated image of the proposed California bullet train. (Photo: High Speed Rail Authority)Hundreds of millions of dollars from California’s auctions of carbon emission credits are being tapped to help finance the $68 billion bullet train project. In subsequent years, a fourth of the auction money will go to the train. The budget requires the governor’s signature to take effect.
California bullet train. (Illustration: High Speed Rail Authority)The latest actions are far from conclusive but they may force delays in the project, which is scheduled to be completed by 2028 to link San Francisco and Los Angeles through the Central Valley. High-speed rail has long been popular in Europe and Asia, but earlier efforts in the U.S. to develop high-speed rail have failed in Wisconsin, Ohio and Florida. (Photo: High Speed Rail Authority).