Underinvesting in Maritime Infrastructure

A paragraph to ponder from the current issue of the Economist - - Crying out for dollars: Underinvestment in ports and inland waterways imperils American competitveness:

"Of the 257 locks in operation in 2009, more than one-tenth were built in the 19th century; the average age of federal locks is 60 years, and they were built with an expected lifespan of 50 years. By 2020 more than 80% of American locks will be functionally obsolete. The extended failure of a single crucial lock could cost agriculture exporters up to $45m and barge operators as much as $163m. But inadequate locks delay ships not just when they break, but by their design. The Industrial Canal lock, for instance, is half the size of a modern one, which means that barges transiting in convoy need to be broken up. That boosts costs to the shipper, and, ultimately, the consumer as well."