Yesterday’s post on the costs of California high-speed rail discussed the likelihood that this megaproject will cost more than projected and the likelihood that taxpayers who pay for construction will have to pay again to rebuild the system every thirty or so years. Such costs are not so much a risk as a certainty. But there are many other risks involved with high-speed rail, some of which could unexpectedly drive up construction costs even more, and others affecting operations.
Some of these risks were identified in the senate oversight report on high-speed rail, including right-of-way, safety, and ridership risks. One important rish that was not brought out by the senate report is the risk that competing technologies will render high-speed rail obsolete.