BIKE: Is TxDOT really as stupid as they seem?

[Byrnes, Rick]

I am not at all convinced that bond default will be in the picture.   I
don't like autos either, but I will play devil's advocate.  Let's not be so
confident of future trends.
Although the prices for fossil fuels may escalate over the long term,  the
price rises must be enormous before they impact consumption and driving
habits.  (We've seen price jumps in the recent past which have had very
little effect on driving.)
We're talking long-term here. 
Development of fuel alternatives  - in the long run - could provide
sufficient numbers of those vehicles to offset declines in gasoline-powered
vehicles.  
If toll road usage does drop, they could and probably will increase toll
fees until the income is satisfactory. 
Furthermore the state could and probably would jump in one way or another,
to prevent a default.  It is in the state's best interest to maintain
fiscally sound local road authorities.

r.b.