California Choo-Choo (Cont’d.)

We quote without comment from  Los Angeles dispatch regarding a poorly publicized calamity that has befallen the California high-speed “bullet train” project.

“The latest auction in California’s cap-and-trade market for greenhouse gases fell sharply below expectations, as buyers purchased just 2% of the carbon credits whose sale funds a variety of state programs — notably, the proposed high-speed rail project.

“The quarterly auction, conducted May 18 and announced Wednesday, will provide just $10 million for state programs, including $2.5 million for the bullet train. The rail authority had been expecting about $150 million.” Ralph Vartabedian, California Cap-and-trade Auction Falls Far Short, Delivering Blow to State Revenue and Bullet Train Fund, Los Angeles Times, May 25, 2016.