USD/BTC = $92,940
Block 879,113
The US State of California – the country’s most populated with around 40 million residents – has unveiled a$310 billion plan to develop and construct a connected mass transit rail system over the next 25 years.
Governor Gavin Newsom announced the project – dubbed the State Rail Plan – on 7 January.
The sprawlinghigh-speed electrified network would stretch across an area more than 500 miles (nearly 900km) long from north to south (Chico to San Diego) with multiple lines running east and west into major metros like San Francisco, San Jose and also Las Vegas, in the neighboring State of Nevada.
The network is said to include intercity, regional, and local transit systems, with a stated goal of making train travel “a more attractive option compared to car or air travel.”
The state said the rail system is designed toproduce zero emissions and could create up to 900,000 jobs.
The state said it hopes toincrease train travel by its residents by 18%.
At present, California rail travel represents just 2% of travelled miles in the state.
A high-speed link between San Francisco and Los Angeles is already in the works, with construction on what could be a $100 billion build picking up again this year after clearing an environmental hurdle. Another line in San Bernardino is expected to start service later this year, while a San Francisco to San Jose corridor opened in September last year. The project has suffered large cost overruns and delays.
In theory these projects sound great but in practice they end up being big money pits. Did the citizens of CA vote for this? Or was this just mandated by the state to help solve road congestion issues. Massive rail does wonders for Japan and Tokyo but I’m not so sure if the same success is to be had in the USA.
3 million bitcoin over 25 years! Wow.