We’ve known since the Ecotrain Study that the cost of building HSR far exceeds the amounts any government in Canada would be willing to pay and again multiplying its price tag by adding more detail to all figures won’t help with that inevitable result.
The biggest (and most counter-productive) misconception about HFR was that it was intended to act as a substitute for HSR rather than the first incremental step towards it, by creating a service quality which resembles the semi-fast and roughly hourly intercity services which preceded HSR in
Italy,
Germany and the
Northeast Corridor. Mercilessly scopecreeping HFR into HSR just represents the elimination of the first few steps towards the same goal while optimistically hoping that we’ll be able to jump four steps at once and then run the remainder of the stair up.
There are only two reasons why any consortium of developers and investors would still participate in this scope creep orgy, despite the clear lack of governmental will and ability to even fund half of the $80+ billion price tag: either because they really believe that they will be able to finance $40+ billion for this mega project or because the termination fee is the more juicy target. I increasingly suspect it’s the latter for Cadence, especially given the rumours I’m hearing from the HFR-TGF (now: ALTO) corner, which is why I’m inclined to say that the stated preferences of the bidders won’t matter at all because neither the governments nor their investors can possibly commit the scale of capital funding required for such a hopelessly overambitious project…