10/01/2026
Many people have asked about the announcement today by President Trump that South Korea will be investing in the Alaska Gasline project. Here are my quick thoughts:
- We know very little about the terms of this deal. The South Korean government appears to have a different understanding of this deal. Seoul told its National Assembly that Alaska LNG is "a matter for future discussion" and they have not confirmed that they will go forward with it.
- “South Korea Industry Minister Kim Jung-kwan, who detailed the three projects to the National Assembly on Sept. 22, said in a press briefing afterward the Alaska gasline "has a weaker commercial case” than the other two [proposed projects], according to The Korea Herald’s report.
“We have agreed with the United States that we will not proceed unless the project is commercially viable,” the industry minister said, according to the newspaper.
- We had been hearing from sources for months that there would be a political stunt like this right before the November election regarding federal involvement in this project
- I’m hopeful that this will move the project forward but remain skeptical in light of President Trump’s many promises, including:
- President Donald Trump recently pledged to send every American adult $5,000 if Republicans retain control of the House and Senate in the midterm elections, at a cost of more than $1 trillion.
ALSO President Trump...
INFLATION
TRUMP’S PROMISE: “Starting on Day 1, we will end inflation and make America affordable again, to bring down the prices of all goods.”
— Campaign rally, Bozeman, Mont., Aug. 9, 2024
“I WILL BRING THE COST OF EVERYTHING WAY DOWN. I WILL BREAK THE INFLATION NIGHTMARE!!!” Truth Social Post, Aug. 2024.
GAS PRICES
TRUMP’S PROMISE: “Energy is going to bring us back. That means we’re going down and getting gasoline below $2 a gallon.”
— Economic Club of New York, Sept. 5, 2024
ENERGY PRICES
TRUMP'S PROMISE: “Under my leadership, the United States will commit to the ambitious goal of slashing energy and electricity prices by half, at least.”
-- North Carolina Campaign Rally, Aug. 2024
FOOD PRICES
TRUMP'S PROMISE: “When I win, I will immediately bring prices down, starting on day one.”
-- His golf club in Bedminster, New Jersey, August 2024
$2,000 CHECKS TO AMERICANS
TRUMP'S PROMISE: "A dividend of at least $2000 a person (not including high income people!) will be paid to everyone."
-- Truth Social Post, November 9, 2025
$5,000 DOGE CHECKS TO AMERICANS
TRUMP'S PROMISE: "I love it. It could also give the taxpayer incentive to go out and report things,"
-- Aboard Airforce One, February 2025
HOMEOWNERSHIP COSTS
TRUMP’S PROMISE: “Young people will be able to buy a home again and be a part of the American dream. We will eliminate regulations that drive up housing costs, with the goal of cutting the cost of a new home in half. … The regulations alone cost 30 percent. Regulation cost 30 percent of a new home.”
— Economic Club of New York, Sept. 5, 2024
MORTGAGE RATES
TRUMP’S PROMISE: “Reducing mortgage rates is a big factor. We’re going to get them back down to, we think, 3 percent, maybe even lower than that, saving the average homebuyer thousands of dollars per year.”
— Economic Club of New York, Sept. 5, 2024
HEALTH CARE PREMIUMS
TRUMP’S PROMISE: “Costs were going to go way up, and that’s what happened, and now I’m bringing them way down on health care and everything else.”
— State of the Union address, Feb. 24, 2026
DEFICIT
TRUMP’S PROMISE: “In the near future, I want to do what has not been done in 24 years: balance the federal budget.”
— Address to a joint session of Congress, March 4, 2025
DEBT
TRUMP’S PROMISE: “But now it’s our turn to prosper, and in so doing, use trillions and trillions of dollars to reduce our taxes and pay down our national debt, and it’ll all happen very quickly.”
— Tariff announcement, White House Rose Garden, April 2, 2025
UKRAINE WAR
TRUMP PROMISE: “If I'm president, I will have that war settled in one day, 24 hours,”
-- CNN Town Hall, May 2023
FOREVER WARS
TRUMP'S PROMISE: "I’m not going to start wars, I’m going to stop wars.”
-- 2025 Campaign trail
https://www.juneauindependent.com/post/south-korea-on-54b-for-alaska-gasline-we-will-not-proceed-unless-the-project-is-commercially-viab
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