Work to expand the Panama Canal so bigger ships can fit through the 100-year-old waterway has virtually ground to a halt, and the consortium in charge of the construction effort said the project is now on the “brink of failure” after talks broke down between the contractors and Panama’s government over who is going to pay for $1.6 billion in cost overruns. The storied canal, built by American engineers, is among the world’s most vital shipping routes, acting as a shortcut between the Pacific and Atlantic oceans that shaves nearly two weeks off travel times for ships that otherwise would need to travel around South America at Cape Horn. But the canal has become too narrow for the world’s ever-larger ships, including those hauling products such as natural gas and other fuels. Countries including the U.S., which is fast becoming a net exporter of natural gas as it uses […]