Quote:
Originally Posted by BrownTown
Except there is no money for this project. The funding is already all used up (or being used currently in the Central Valley). That was the most fundamental issue with this whole project; they started building without enough money to complete it and no plans on where to get it.
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25% of the cap-and-trade auction proceeds (each quarter there is $800 to $1 billion in revenue), which means about $800 million per year, had been dedicated to CAHSR. The issue wasn’t that the money was used up. It was that it was not enough even if financing against future cap-and-trade revenue to raise the full $77 billion.
Most recent auction:
https://www.fresnobee.com/news/local...222204730.html