Sources: World Economic Forum Outlook on the Global Agenda 2014 World Trade Organization, International Trade Statistics, 2014 OECD Development Center Working Paper No. 285, 2010 6.3.1 Technological Innovation To what extent will technology improve goods movement and handling? • One example of potentially ground-breaking transportation technology is Elon Musk’s (CEO of Tesla Motors) Hyperloop concept. • The idea involves aluminum transportation pods being accelerated by electromagnets through a vacuum tube to velocities over 1,000 km/h • Proposed design would be able to transport passengers from San Francisco to Los Angeles in 35 minutes at a price of $20 (vs. 2.5 hrs. and $85 for high speed train) • While the concept is based on existing technology, critics argue that the construction costs as proposed by Musk ($6 billion to build a line between SF and LA) are underestimated by a factor of 10 Source: BBC News: Is Musk’s Hyperloop just a pipe dream? Tesla Motors: http://www.teslamotors.com/sites/default/files/blog_attachments/hyperloop_alpha3.pdf Port 2050 Scenario Update Initiative - 2015 51