By the way, when I was at Panama Canal, they made a pretty big deal about a third set of locks being built. It’ll be done by 2014 (so they said), but the canal will be used to capacity by 2012. And US is their biggest customer, at about 60%. How else do we transport things from the Pacific to the Atlantic and back? Railroads.
Yup, it’s not the sexiest thing in the world, but that’s how it is. I don’t even know if that’ll have an impact with the railroad industry, but it doesn’t hurt that Buffett’s Berkshire Hathaway recently (6 months ago) bought a pretty big stake in the largest railroad company in the US.