President Trump announced Wednesday that South Korea will invest $54 billion in an Alaska liquefied natural gas project. At the center of it is an 800-mile pipeline running from Alaska’s North Slope to the southern coast, where the gas would be shipped to markets in Asia. Completion is expected in about three years.
Alaska has some of the highest fuel prices in the nation, and when Trump was asked about that, he said gasoline prices there will “tumble” because of this project and others, adding that prices will drop regardless once the war ends. The project would also strengthen the flow of U.S. natural gas exports to Asia, which could have ripple effects on energy markets well beyond Alaska.
Trump also addressed Alaska’s closely watched Senate race between Republican Dan Sullivan and Democrat Mary Peltola, saying that “if the people of Alaska knew what I know,” there wouldn’t even be a race. He said he plans to visit Alaska before the midterms to campaign for Sullivan.
What do you think: is a $54 billion foreign investment in American energy a win for the country, or do the promises outpace the timeline? Let us know in the comments.
