Spotlight On

The Suez Canal is currently owned by Egypt.  Even though it is owned by Egypt, international law dictates that any country may use regardless of who they are.  The Canal is used very regularly and it can handle bigger and more ships than the Panama Canal.  Two thirds of the oil that reaches Europe goes through the Canal along with approximately 8% of the world’s sea trade.  The Canal is very important in today’s global commerce for it allows a fast way of trade between Europe and Asia.  I am interested to see if another country tries to take control over the Canal while Egypt is in a struggle.  The Canal is a great source of revenue along with being very important to that part of the region.