Richard, there is no updated cost on the Alaska LNG export project. The $44 billion estimate is a few years old. I am a Alaska political columnist, who has followed this for decades. I find it impossible to believe that Trump will be able to order Japan and Korea to pay for it with money collected from U.S. businesses and consumers with no congressional oversight. Or that Japan and Korea would agree to do so. Here is my latest blog post.
Thanks for your interesting and enlightening post. When do you think the full text of the MOU will be available?
Demot, Japan is not paying with money gathered from US businesses or customers, but by using government agencies which issue bonds, including government guaranteed bonds. This is Japanese money. No idea when MOU will be published, nor whether there will be any change in wording.
Apologies for the inaccurate wording on my part. I intended to say that the scheme for the $550 billion seems farcical. And even a compliant Congress will object to it becoming a one-man slush fund. Add to that the Japanese claim that these will largely be loans and loan guarantees and it becomes harder to believe that the deal will last. I appreciate your analysis.
Yes, but it is very much worth considering to what extent Ishiba and other senior Japanese politicians have become so dependent on the US - not just in objective economic and defense terms, but mentally colonized, seeing the world in American terms no matter how onerous - that they can no longer imagine pushing back. Will the next PM do any better?
You asserted that, "Trump has been pressing Japan and Korea to invest in a $44 billion Alaskan pipeline oil project and buy some of the resulting oil. No Japanese companies want to invest for the same reason that American companies have abandoned it: the proposed project is a money-loser." However, nothing in the article you link to or the one it links to supports your statement. There are reasons, but cost isn't listed as one.
Given Trump's promises aren't worth the ink they're written with, I think the Japanese were desperate to get the tariff down NOW to a (just) doable 15%. The rest can be sorted out later on. Maybe the Supreme Court will declare the tariffs illegal. Maybe Trump will be thrown out of office or assassinated...
Richard, there is no updated cost on the Alaska LNG export project. The $44 billion estimate is a few years old. I am a Alaska political columnist, who has followed this for decades. I find it impossible to believe that Trump will be able to order Japan and Korea to pay for it with money collected from U.S. businesses and consumers with no congressional oversight. Or that Japan and Korea would agree to do so. Here is my latest blog post.
Thanks for your interesting and enlightening post. When do you think the full text of the MOU will be available?
https://www.dermotcole.com/reportingfromalaska/2025/9/7/illeo66ooib2nfgssjrde8xrjejqdn
Dermot, Google Alerts sent me your piece. Thanks
Demot, Japan is not paying with money gathered from US businesses or customers, but by using government agencies which issue bonds, including government guaranteed bonds. This is Japanese money. No idea when MOU will be published, nor whether there will be any change in wording.
Apologies for the inaccurate wording on my part. I intended to say that the scheme for the $550 billion seems farcical. And even a compliant Congress will object to it becoming a one-man slush fund. Add to that the Japanese claim that these will largely be loans and loan guarantees and it becomes harder to believe that the deal will last. I appreciate your analysis.
Yes, but it is very much worth considering to what extent Ishiba and other senior Japanese politicians have become so dependent on the US - not just in objective economic and defense terms, but mentally colonized, seeing the world in American terms no matter how onerous - that they can no longer imagine pushing back. Will the next PM do any better?
You asserted that, "Trump has been pressing Japan and Korea to invest in a $44 billion Alaskan pipeline oil project and buy some of the resulting oil. No Japanese companies want to invest for the same reason that American companies have abandoned it: the proposed project is a money-loser." However, nothing in the article you link to or the one it links to supports your statement. There are reasons, but cost isn't listed as one.
The question is the viability of the project in terms of companies want to buy the oil, as I noted.
Given Trump's promises aren't worth the ink they're written with, I think the Japanese were desperate to get the tariff down NOW to a (just) doable 15%. The rest can be sorted out later on. Maybe the Supreme Court will declare the tariffs illegal. Maybe Trump will be thrown out of office or assassinated...
And paid the price.