After getting a U.S. Supreme Court ruling that overturned a government agency’s rejection of the proposed 88-mile Uinta Railroad designed to carry oil from Utah and across Colorado and into Oklahoma and points beyond, the developers now are asking for $2.4 billion in federal bonds.
The funding would go toward the total cost of the $3.8 billion project that is opposed by western Colorado counties and the state of Colorado.
The Seven County Infrastructure Coalition behind the Utah project adopted a plan last week to seek the $2.4 billion in private activity bonds from the U.S. Department of Transportation to pay for the construction of the railway. Environmental groups remain opposed to the project, fearful of oil spills along western Colorado rivers where the track eventually would carry oil in tankers. They also claim the request for government bonds would mean more drilling and increased tanker traffic to pay off the debt, reported the Colorado Sun.
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