So I heard about Evacuated Tube Transport several years ago. Seemed like a great idea, but it doesn't seem like they've made any progress in years.
If you've never heard of it the idea is basically to create a long vacuum tube big enough to fit a capsule in it which can transport people. Additionally they use maglev technology to allow the capsule to float. With the combination of the vacuum and maglev you have basically 0 friction allowing the capsule to reach incredible speeds with minimal energy costs.
They proposed that with this technology you could get from New York to LA in 45 minutes and from New York to China in 2 hours. Max speed would be around 4,000 MPH.
They're also saying it would be incredibly energy efficient and the track would cost significantly less than building a railway or freeway.
You can read more about it here: http://www.et3.com/
So why hasn't this taken off yet? Is there some engineering problem they're having issues overcoming? Are investors just not interested? Is big oil trying to shut them down? What's the deal?