Ruth Liao

Jamie Dimon testifies

Jamie Dimon calls LNG exports a ‘realpolitik goal’ and a ‘great economic boon’ for the U.S.

By Ruth Liao and Bloomberg

PANAMA CITY, PANAMA – SEPTEMBER 22: The container ship Maersk Bogor passes through the Miraflores locks with a small boat while transiting the Panama Canal on September 22, 2023 in Panama City, Panama. The Panama Canal Authority is continuing to restrict the number of vessels that pass through the Panama Canal locks as drought has caused water levels at Gatun Lake to drop. The locks depend on millions of gallons of fresh water from the manmade lake to fill locks in Panama City and Colon in order to transit shipping vessels from the Pacific Ocean to the Caribbean Sea. Over one hundred ships are waiting to transit the canal and the backup could delay goods heading to the United States for the holiday season. It takes an average of 8-10 hours for a ship to transit the 50 miles through the canal versus several weeks to travel thousands of miles around Cape Horn and the southernmost parts of South America. (Photo by Justin Sullivan/Getty Images)

Panama Canal has gotten so dry and backed up after brutal drought that shippers are paying up to $4m to jump the queue

By Ruth Liao and Bloomberg

A tugboat navigates a container ship into the Culebra Cut from the Chagres River near Gamboa, Panama, on Thursday, Nov. 2, 2023. The Panama Canal is so shallow from climate change that quotas are being imposed on how many ships can use the artery, a decision destined to snarl trade in energy, consumer goods and food as carriers are forced to sail thousands of extra miles to make deliveries. Photographer: Walter Hurtado/Bloomberg via Getty Images

The Panama Canal is so congested that one ship owner just paid a record $4 million to skip to the front of the line

By Ruth Liao, Anna Shiryaevskaya, and others

Tugboats pull the Malta-flagged Carpe Kortia container ship after an “outbreak of fire” in the engine room -which left no casualties- at the Panama canal, Panama, on January 30, 2023. – The “fire conate” is the second sinister with fire in the interoceanic way in the last six weeks, authorities reported. (Photo by Román DIBULET / AFP) (Photo by ROMAN DIBULET/AFP via Getty Images)

Panama Canal water levels are dangerously low because of a massive drought and it could mean bad things for global inflation

By Laura Curtis, Ruth Liao, and others