Earth Equity News

Foreign Companies Eye Obama High-Speed Rail Plan. AP, July 21, 2009. "Foreign companies that dominate the international high-speed rail industry are trying to cash in on the Obama administration's plan to pump billions of dollars into U.S. rail systems to help stimulate the economy. The stimulus plan sets aside $8 billion for high-speed rail, a figure that has ambassadors and foreign leaders jockeying to get their preferred companies in on the deal. Though the law requires the U.S. to 'buy American' with stimulus money, the rail plan requires so many trains and so much expertise that the administration has conceded foreign companies are likely to be part of it."