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Panama Canal drought: Rolling ecological crisis is raising prices everywhere

Climate change and El Niño are causing global shortages of everything from Barbie dolls to natural gas

Panama Canal drought: Rolling ecological crisis is raising prices everywhere
The drought-hit Panama Canal will maintain restrictions on the passage of ships until next year. | Ivan Pisarenko/AFP via Getty Images
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It’s been another summer of extreme weather and the relentless drumbeat of climate change syncopating with the warm-water Pacific Ocean cycle of El Niño has reverberated across the globe.

Floods in the Balkans and North Africa have killed thousands, wildfires have raged across much of the Mediterranean, India’s rice crop has been hit by drought and Canada’s wheat harvests by floods. Meanwhile, in Central America, the driest weather in decades is menacing one of the most important transport arteries on earth.

A massive 40% of the world’s cargo passes through the Panama Canal, which ties together the two great oceans in the eastern and western hemispheres.