OK Dan having just refound this topic of yours from 2001 it looks like your question was never really answered in this topic at least
However the song and album title have been explained a few times that I know of and refers to the immense quantity of electrical
wiring required during the construction of his yacht the "Golden Goose"
Somebody
mooning aboot on a yacht!!!
The following is from a 1979 article in Yachting magazine that is reproduced on Wayne's site at:-
http://www.lightfoot.ca/goldgoos.htm
"The navigation station, just to the port of helm, is so well endowed that Lightfoot titled his last album "Endless Wire,"
after seeing the task before the electrician"
John Fowles
Down in the black of a bottomless hole
There's a few good second hand scenes