Only $18 billion. The government seems to have that kind of money lying around. I guess theoretically Alberta will have about $4 billion dollar surplus this year. There are worse options than using it on an infrastructure project.
The project might be more useful in the London to Montreal area. Not sure how many people actually even travel between Edmonton and Calgary.
I do think this would be pretty cool. Maybe worth taking a loss on (with heavy federal backing that is) just to try it out, and the Alberta corridor is a solid test subject.
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