Oh The Erie Was A’ Risin’ And The Gin Was Gettin’ Low

Great news via Publius Pundit

Panama’s great referendum on expanding the mighty Panama Canal, to accomodate two times’ as much ship traffic, is taking place today. 1.7 million Panamanians are registered to vote on the $5.3 billion upgrade, essentially a bond project to be financed with crossing fees. Local muni-bond initiative as is, it will affect billions of people around the world. Some 70% of Panamanians are polled to favor it ahead of the vote.

And once again the polling data was wrong, as nearly 80% voted for the project. Thanks you, citizens of PAnama. This is great news for world trade. When this project is completed transit times and rates will fall, which will mean lower prices for consumers and more trade.
I can tell you from personal experience that the Canal currently is clogging up; my business is affected all the time by delays at the Canal entrance. Now, this will also lead to environmental fights at our ports as well, as the larger ships that can come through the canal will need similarly expanded port facilities on US east coast, and especially Gulf, ports, which means we will have to do some, gasp, dredging.
And you know how much the left hates muckraking.

One Response to “Oh The Erie Was A’ Risin’ And The Gin Was Gettin’ Low”

1. tree hugging sister says:

   October 23, 2006 at 7:51 am

   major momma is on her way down Friday!n I’ll have to fork over cash for a camera for her so she can be our Central American Bureau correspondant.