Green Projects Hit Iron Wall

RealClear Wire reports "Developers looking to build thousands of wind turbines off the Mid-Atlantic and New England coast are coming up against a force even more relentless than the Atlantic winds: the Iron Law of Megaprojects, offering a warning of the trouble ahead for green-energy projects.

"The Iron Law, coined by Oxford Professor Bent Flyvbjerg, says that 'megaprojects' — which cost billions of dollars, take years to complete, and are socially transformative — reliably come in over budget, over time, over and over.

"From Boston’s Big Dig to California’s high-speed rail to New York’s 12 years-overdue and 300% over-budget East Side Access rail project, big boondoggles routinely demonstrate the validity of the rule."

Learn more about the Iron Wall.