More On Cost/Benefit Analysis
The engineering firm Parsons is in charge of the planning for the California High Speed Rail Project, a project beloved by both Barack Obama and Jerry Brown. The project is in deep trouble since the COST has more than tripled since it was originally proposed. Here is how Parsons has adjusted the BENEFIT part of the equation to justify the tripled costs.
"Parsons said the high speed rail system could carry 116 million passengers a year, based on running trains with 1,000 seats both north and south EVERY FIVE MINUTES, 19 hours a say and 365 days a year. The study assumes the trains would be 70% full on average." (Los Angeles Times January 17, 2012)
Read that again. EVERY FIVE MINUTES. 700 passengers would travel on the high speed train every five minutes 19 hours a day (basically 11PM to 4AM)!!! And note that ticket prices are not specified.
And just so you know. Parsons contributed heavily to the political campaign for $9.9 billion bond measure in 2008.
Get ready for a high speed train to nowhere and hundreds of closed schools in California.