It is putting a tax on knowledge to pay for stupidity.
We are talking about the Stunnel, or Stunned Tunnel. Regular readers will recall the Stunnel idea got some powerful support in 2003. You'll find a post in 2005 that described the project as it stood a year or two earlier:
The Stunnel "would cost $1.3 billion or thereabouts. It would need an average of 1400 cars travelling across it per day, with a peak of 3, 000 per day, in order to be viable. Proponents also claim it would produce upwards of 40, 000 direct and indirect job during construction, although this would last for a total of three years. Using the ever popular argument, proponents say the Stunnel would be an engineering marvel and attract tourists from around the world. "The original feasibility study cost only $100,000. As SRBP summarised in early 2005, the study concluded you could build the cheapest option - a bored tunnel that ran an electric train back and forth - for about $1.7 billion. The government would have to put in pretty much all of that and it would take 11 years to finish.
We don't need to spend seven and a half times that much to figure out how crazy the Stunnel idea still is.