Nicaragua Making Noise About Digging Their Own Canal Again
Monday, June 11 2012 @ 06:24 PM UTC
Contributed by: Don Winner
The government of Nicaragua presented before their Congress a project to build a new canal a week ago, that would be an alternative to the Panama Canal that would unite the Atlantic and the Pacific through six tracks. The project would cost an estimated $30 billion dollars and there are six countries interested in financing the project, said the government of Daniel Ortega. The statements made by Henriquez are added to those of the Administrator of the Panama Canal, Alberto Aleman, who said "the project of building a canal through Nicaragua does not worry us, because competition is always good."
An estimated 5% of world trade passes through the 80 kilometers of the Panama Canal every year. More than a million ships have passed through its waters since it was inaugurated on August 15, 1914. The government of Panama received the Panama Canal from the United States in 1999 and since then the central government fund has received more than $6.5 billion dollars from Panama Canal profits. Prior to that, during the entire 86 years that the Panama Canal was administered by the United States, the government of Panama had only received a grand total of $1.8 billion dollars. The Panama Canal is currently being expanded for an estimated cost of $5.25 billion dollars, so that vessels carrying as much as 12,000 containers can pass through its waters. (Telemetro)
Editor's Comment: Let's see, can you name the six countries that would be interested in helping Nicaragua finance the construction of a new canal? You can start with Venezuela, but Hugo Chavez will probably be dead before the first shovel full of dirt is turned. Next up would be Iran - hey, maybe they can use their nukes to help dig the ditch? Then of course you can add the other two left wing nuts of Latin America - Ecuador and Bolivia. Any guesses on the other two? China's got the money. Hey, didn't France just go Socialist again? You know what happens when those dudes try to dig a canal... The bottom line is that this issue comes around every couple of years. They keep talking about it in Nicaragua, and they've been talking about it for decades. This isn't a new concept.