pacific to the caribbean sea. 40% of global cargo traffic moves through the slender waterway. reporteter: the pan aamaa is of the m most sucuccessful shortcuts. $270 billion of trade each year rides on this ribbon of water. boris is the vice president of operations. i have never walked across the panama canal. it s an experience. reporter: two-thirds of the travel is coming from or going to the united states. that flow of goods is now at risk because this 50-mile-long system that connects two oceans is actually above sea level and doesn t run on ocean water. it s freshwater. reporter: you are reliant on rainfall? yes. this year has been an unprecedented dry season.
to see firsthand how a lack of rainfall is creating a backlog of cargo. reporter: there is a traffic jam outside of the panama canal. massive cargo ships sitting idle has a low water levels slow the low of goods through this critical waterway. we have vessels waiting outside for almost three weeks. time is money. time is money. reporter: antonio dominguez is a menacing director of shipping giant maersk. he is worried about drying up the canal. the number of vendors through each day has cut from 36 to 32 and some ships are forced to carry up to 40% less cargo so they don t hit bottom. it means extra cost and more time. so the things we buy are going to be more expensive. more expensive and they are going to be late. > reporter:r: thehe panama cl isis onene of f the world d s mt successfsful shortcuts. about $270 billion of trade each year rides on this pathway between the pacific and the atlantic. i have never walked across
we are getting pushed into this ev world while many can t even afford it. at the same time, anybody was tying to still drive their gas car, gas prices are going up substantially in the past month. $3.82 is the national average. what exactly is going on here? this ev push premature. we ve got to start somewhere. the ev buses have improved since the last reporting period you have to look at the big picture. there s no reason to panic at this particular disco. president biden has initiated the investment act. that is led to $270 billion in private investments. a lot of that investment, sandra, your viewers should know is going to red states. 80% of the projects in green clean energy are going into republican held districts. we also see that 60% of the
trillion market cap one year ago to $270 billion today. quite the drop. cnbc live from london, thank you for all of the updates. still ahead here, a conversation about the polarizing politics ahead of tomorrow s elections. will i ll be joined by the chief white house correspondent for the new york times our friend peter baker. way too early will be right back with that. ker. way too early will be right back with that enough was enough. i talked to an asthma specialist and found out my severe asthma is driven by eosinophils, a type of asthma nucala can help control. now, fewer asthma attacks and less oral steroids that s my nunormal with nucala. nucala is a once-monthly add-on injection for severe eosinophilic asthma. nucala is not for sudden breathing problems. allergic reactions can occur. get help right away for swelling of face, mouth, tongue, or trouble breathing. infections that can cause shingles have occurred. don t stop steroids unless told by your doctor.
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