Bloomberg’s feature story on May 12, 2011 serves as a great introduction for our “project”:

“Erdogan $ 12 Billion Bosporus Bypass Speeds Maersk Tankers: Freight Markets”

“Turkish Prime Minister Recep Tayyip Erdogan’s plan to divert tankers from the Bosporus to a new canal may unclog one ofthe worst chokepoints for energy carriers such as A.P. Moller-Maersk A/S of Denmark and Greece’s Tsakos Energy Navigation Ltd. (TNP)…

“At the same time, the plan would generate a building bonanza for Turkish real estate investors and developers … They are jostling for a piece of what Erdogan calls one of the biggest development projects in the world: the construction of a new population center on the canal’s banks.

““We’re talking about building not just a canal, but a city right next to Istanbul of three million people,’ Serdan Inan, chairman of Inan lar Insaat, said in an interview at the company’s Istanbul offices. Erdogan has praised In an’s offer to spend $ 30 billion to construct the project; In an predicted total revenue from building it and nearby facilities will exceed $ 300 billion in 15 years.

“Most of the money would be made from building, selling and managing apartment buildings, hotels and other facilities on the banks of the canal, Inan said. Erdogan said the project also will include a new airport, Turkey’s largest, and two new cities, one on each side of the Bosporus, to allow people to move out of crowded, earthquake-proneparts of Istanbul…

“Kiler Holding AS, which opened Istanbul’s tallest building this year … applied for rights to the ‘Istanbul Canal’ name within five hours after Erdogan announced the plan. Billionaire developer Ali Agaoglu, who’s erecting towers on London’s Canary Wharf, also supports it…

““We definitely hope this project becomes a reality,’ said Amit Agaelli, a manager in the ship chartering unit of Palmali Holding Co., owned by Turkish-Azeri billionaire Mubariz Mansimov and one of the primary owner-operators of tankers through the Bosporus…” —

Sounds like a great idea, right? One of the biggest development projects in the world, the Prime Minister calls it. One of the biggest, yes, but not the very biggest. The “project” we proposed to President Reagan back in 1982 would be the very biggest. Like we said in our previous commentary, “Tt will be mankind’s greatest undertaking and greatest achievement.”

According to the Bloomberg report, the “Istanbul Canal” would spawn two new cities, but as we pointed out, our “project will require construction of eight new cities and fifteen new harbors in the continental U.S.”

We also made it clear that, “Every U.S. citizen and most of the world’s population will benefit from this project for an indefinite period of time.” How so?