Jim Scarantino and Steve McAllister review the RailRunner’s red ink and its consequences for our state. Read the latest report at New Mexico Watchdog here.
RailRunner Costs Are Eating New Mexico Alive
Why is New Mexico not realizing its potential?
I-25 along with all roads are financial black holes, though you teabaggers love “free”ways.
Supposed to cost: $122M
Actual cost: $475M
Costs to operate: $21M/yr
Revenues ~$2M/yr
Difference made up by additional 1/8 percent gross receipts tax
Disgusting. The public should know what we were sold, what it cost to build, and what it is costing. And what else that money could have bought.
Rail Runner saves New Mexico more than it costs. It is not “eating New Mexico alive”
Rail Runner is hauling maybe 4,000 people each weekday on trains that use only 2.5 gallons of oil per mile.With 180 people average per train, they would use 0.04 gallons each if they drove, which they probably did before the train was up and running. 180 times 0.04 = 6.26 gallons so the train is saving 3.75 gallons for each mile it runs. With maybe 750 miles a day, that is a saving of 2,800 gallons, 815,600 gallons a year worth $ 2 million per year.
Rail Runner is a much better buy than an Albuquerque bus which save little oil and has a much greater subsidy per mile. ET