Trump says US deal with South Korea includes $8.4 billion for oil recovery
XLE•Trump said the US trade deal with South Korea includes $8.4 billion for an oil recovery project. He also cited plans for South Korean investment in US projects, including power plants and energy infrastructure.
1. Oil recovery funding
Trump said the US trade deal with South Korea now includes $8.4 billion for an oil recovery project. He wrote that the project would produce more oil and gas.
2. Broader investment package
Trump said South Korea’s planned investment would include eight large-scale nuclear power plants, a natural gas pipeline and a 6-gigawatt power generation facility in Texas. Seoul said the proposed Alaska LNG pipeline would proceed only if commercial and legal conditions were met, and that the project would be reviewed for commercial viability and compliance with legal procedures.
