Published at 10:49 on 12 February 2014
This is absolutely not a surprise.
Mark my words, the tunnel part of this project will end up costing somewhere in the neighborhood of $5 billion, i.e. about 2.5 times the official estimate. I’ve never committed this number to writing before, but it’s what I’ve long expected, based on the historical record of tunnel megaprojects going way over budget.