We Need To Get Aboard

China, the second largest economy after ours, has invested $360 billion in high-speed trains which carry passengers between large cities at 200 mph.

Spain, despite its economic challenges, has invested $170 billion in high-speed rail systems. A similar rail expansion is taking place in Europe; this runs from the boot of Italy to the Baltic Sea.

Worldwide, however, most nations are not associated with such rail infrastructure, but India, Brazil, Argentina, Morocco and others are planning high-speed rail networks.

WMB believes these countries understand that modern rail systems are critical pieces in developing competitive 21st-century economies. They see the problems caused by dwindling oil supplies, congested highways and airports, and soaring carbon emissions.

Unfortunately, the United States has been sidetracked by controversy involving high-speed rail.

Deficit Versus Jobs

Officials in some states think a rail system will only add to the already high and unprecedented government budget deficits. But advocates argue it will make our infrastructure more efficient and create badly needed employment.


The Obama administration and various states will ensure the foundation of a national high-speed rail network will be laid in the next several years, according to the U.S. High Speed Rail Association.

This financial foundation includes $8 billion in federal stimulus funds slated to extend the network 17,000 miles by 2030, between all major cities in America, and at a cool 220 mph.

California will get $2.34 billion, the largest award,to help set up a high-speed line between San Diego and Sacramento by 2026.

States receiving more than $150 million in federal funds include Florida, North Carolina, Illinois, Washington, Oregon, Wisconsin, Ohio, Michigan, Virginia, and New York. But the governors of Florida, Wisconsin and Ohio, calling the rail project a boondoggle, have rejected funding.

Eventually, private funding would be included in the projected $600 billion project.

The Rail Alternative

The reasons so many interest groups support creation of a national high-speed rail system are straight-forward.


The United States has become far too dependent on foreign oil. Americans use six times more oil per capita than Europeans.

Currently, we spend up to $700 billion a year to import foreign oil, with 70 percent of this consumed by cars, trucks, and airplanes.

With oil prices hovering at $100 per barrel, the American economy is in jeopardy.

And most experts believe that we have hit the point of peak oil. This means that as demand soars and supplies decrease, the price per barrel could reach $300 within this decade.

Andy Kunz, president and CEO of the U.S. High Speed Rail Association, says enhancing America’s energy security is one of the best reasons we need a state-of-the-art high-speed rail system.

WMB agrees, and we think a national high-speed rail system will create millions of jobs, help revive the manufacturing sector by incorporating our steel and related components, and alleviate pressure on a crumbling infrastructure.

A side benefit would be removal of many vehicles daily from our clogged highways. Traffic delays cost the U.S. economy an estimated $156 billion annually.

Green And Viable

Then there’s the environment.

A national rail system also would dramatically reduce our collective carbon footprint. Advocates note the cost of building will decline each year and, eventually, exceed the estimated $600 billion budget.

Although much of the funding will be public, many believe the private sector can best run such an infrastructure.

WMB believes the United States must build a high-speed rail network to stay competitive in a world economy.

Why not put the money we spend on imported oil into a new rail infrastructure? The stakes are high, and we can’t afford to do otherwise.

America needs to embrace change, or we won’t control our destiny in the near-term.

Improvements on high-speed rail could one day reach over 300 mph and help maintain our global position and competitiveness.

We shouldn't be left behind at the station!

TechMan

If you enjoyed this post, please consider subscribing for FREE (link in right sidebar) and sharing it on Facebook and Twitter. Thank you!