Trump tariffs push Asian trade partners to weigh investing in massive Alaska energy project

Published

3 weeks ago

April 20, 2025

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Japan, South Korea and Taiwan are considering investing in a massive natural gas project in Alaska in an attempt to reach trade deals that would both satisfy demands from President Donald Trump and avoid high U.S. tariffs on their exports.

Alaska has long sought to build an 800-mile pipeline crossing the state from the North Slope in the Arctic Circle to the Cook Inlet in the south, where gas would be cooled into liquid for export to Asia. The project, with a staggering price tag topping $40 billion, has been stuck on the drawing board for years.

Alaska LNG, as the project is known, is showing new signs of life — with Trump touting the project as a national priority. Treasury Secretary Scott Bessent said earlier this month that the liquified natural gas (LNG) project could play an important role in trade negotiations with South Korea, Japan and Taiwan.

“We are thinking about a big LNG project in Alaska that South Korea, Japan [and] Taiwan are interested in financing and taking a substantial portion of the offtake,” Bessent told reporters on April 9, saying such an agreement would help meet Trump’s goal of reducing the U.S. trade deficit.

Taiwan’s state oil and gas company CPC Corp. signed a letter of intent in March to purchase six million metric tons of gas from Alaska LNG, said Brendan Duval, CEO and founder of Glenfarne Group, the project’s lead developer.

“You can imagine the geopolitical enhancements whether it’s for tariff or military reasons — Taiwan is really, really focused on getting that signed up,” Duval told CNBC in an interview. CPC has also offered to invest directly in Alaska LNG and supply equipment, Duval said.

March trade mission

Duval and Alaska Governor Mike Dunleavy traveled to South Korea and Japan on a trade mission in March, meeting with high-ranking officials in government and industry. Japanese and South Korean companies have asked whether their development banks can help finance Alaska LNG, Duval said.

“Lately, there has been quite a lot of inquiries from India, so there’s a fourth horse that’s entered the race,” Duval said. Thailand and other Asian countries have also shown interest, he said.

The Alaska LNG project has three major pieces: The pipeline, a gas processing plant on the North Slope and a plant to liquify the gas for export at Nikiski, Alaska. These facilities are estimated to cost roughly $12 billion, $10 billion, and $20 billion respectively, Dunleavy said at an energy conference in Houston in March.

The permits for Alaska LNG are already in place, the CEO said. Glenfarne expects to reach a final investment decision in the next six to 12 months on the first phase of the project, a pipeline from the North Slope to Anchorage that will supply gas for domestic consumption in Alaska, Duval said.

Construction on the LNG plant is expected to begin in late 2026, the CEO said. The goal is to complete construction on the entire Alaska LNG project in four and a half years with full commercial operations starting in 2031, he said.

Alaska LNG plans to produce 20 million metric tons of LNG per year, equal to about 23% of the 87 million tons of LNG that the U.S. exported last year, according to data from Kpler, a commodity researcher.

‘Unleashing’ Alaska’s resources

Alaska plays a central role in Trump’s goal to boost production and exports of U.S. oil and gas, part of the White House’s agenda for U.S. “energy dominance.” The president issued an executive order on his first day in office seeking to tap Alaska’s “extraordinary resource potential,” prioritizing the development of LNG in the state.

“We’ll have that framed on our walls in Alaska for decades,” Gov. Dunleavy said at the Houston conference last month, referring to the executive order.

Once a net importer, the U.S. has rapidly become the largest exporter of LNG in the world, playing an increasingly vital role in fueling power plants in Asia and Europe for allies with limited domestic energy resources. Japan and South Korea, for example, each took about 8% of U.S. LNG exports last year, according to Kpler data.

The Trump administration views Alaska LNG as “an important strategic project,” Interior Secretary Doug Burgum said at the Houston energy conference. LNG exports from Alaska would reach Japan in about eight days rather than having to pass through the congested Panama Canal from terminals on the Gulf Coast, Dunleavy said at the same conference.

“They can have the opportunity to get delivered to them the most efficient LNG from an allied partner,” while avoiding chokepoints, Duval said. “This is the only LNG the U.S. can supply that has a direct route, and they are very cognizant about that in today’s environment.”

North Pacific talks

Trump told reporters during a joint press conference with Japanese Prime Minister Shigeru Ishiba in February that the two countries were discussing the pipeline and the possibility of a joint venture to exploit Alaska oil and gas. Trump said he discussed the “large scale purchase of U.S. LNG” in an April 8 phone call with South Korea’s acting President Han Duck-Soo, and Korea’s participation in a “joint venture in an Alaska pipeline.”

Japan wants to maintain its security agreement with the U.S. against a rising China and avoid tariffs, officials at the Alaska Industrial Development and Export Authority told the Alaska Senate finance committee during a February presentation. “We are now in a completely ‘transactional’ trade world,” the executives said. Tokyo must invest more in the U.S., buy more LNG and enter a joint venture linked to Alaska oil and gas, they said.

The project would likely be a structured as a loose joint venture, with Asian partners signing contracts for large volumes of LNG, Duval said, and won’t necessarily translate into Japan, Taiwan and South Korea holding direct equity stakes in Alaska LNG, though Glenfarne is open to the possibility, he said.

Glenfarne’s goal is to be the long-term owner and operator of Alaska LNG with partners, Duval said. Glenfarne is a privately-held developer, owner and operator of energy infrastructure based in New York City and Houston. The company assumed a 75% stake in Alaska LNG from the Alaska Gasline Development Corporation in March, with AGDC keeping 25%.

Roadblocks and commercial viability

The Trump administration is clearly pressuring Japan, South Korea, and Taiwan to invest in Alaska LNG, said Bob McNally, president of Rapidan Energy and former energy advisor to President George W. Bush. Although Japan wants to both placate Trump and diversify its LNG supplies, Tokyo may yet hesitate to invest in Alaska LNG due to the project’s cost, complexity and risk, McNally said.

Another roadblock is that Democrats could return to power in 2028 and try to stop the project from advancing, citing environmental effects, McNally said. President Joe Biden, after all, paused permits for new LNG exports to countries including Japan that don’t have free trade agreements with the U.S. But Trump reversed Biden’s suspension as part of a torrent of executive orders tied to energy on his first day in office in January.

In addition to political risk, Alaska LNG “doesn’t have a clear cut commercial logic,” said Alex Munton, head of global gas and LNG research at Rapidan. “If it did, it would have had a lot more support than it has thus far, and this project has been on the planning board for literally decades,” Munton said. There are more attractive, existing LNG options for Asian customers on the Gulf Coast, he said.

The project is expensive even by the standards of an LNG industry that builds some of the costliest infrastructure in the energy sector, Munton said. The price tag of more than $40 billion likely needs to be revised upwards given that it is two years old, the analyst said.

“You have to assume that the costs are going to be much higher than the publicly quoted figures,” Munton said. Alaska LNG will likely need “public policy or a public commitment of funds to bring it to life,” the analyst said.

Duval said Alaska LNG will be competitive with no government subsidy. “It is a naturally competitive source of LNG, independent of the geopolitical benefits, independent of the tariff discussions,” he said.

“We have the support of the president of the United States,” Dunleavy said in Houston. “We have Asian allies that need gas. Geopolitical alliances are changing. Tariff questions are coming up. When we really look at it in that context, it’s a very viable project.”

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All the EVs you can buy with 0% interest financing in May 2025

Published

7 hours ago

May 12, 2025

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All the EVs you can buy with 0% interest financing in May 2025

Lease deals get all the hype, but most people still want to own the car after they’re done making all those payments on it. If that sounds like you, and you’ve been waiting for the interest rates on auto loans to drop, you’re in luck: there are a bunch of great plug-in cars you can buy with 0% financing in May, 2025!

As I was putting this list together, I realized there were plenty of ways for me to present this information. “Best EVs ..?” Too opinion based. “Cheapest EVs ..?” Too much research. “Best deal ..?” Too opinion based. In the end, I went with alphabetical order, by make. And, as for which deals are new this month? You’re just gonna have to check the list. Enjoy!

Acura ZDX

New for 2024, Acura ZDX uses a GM Ultium battery and drive motors, but the styling, interior, and infotainment software are all Honda. That means you’ll get a solidly-built EV with GM levels of parts support and Honda levels of fit, finish, and quality control. All that plus Apple CarPlay and (through June 2nd) 0% financing for up to 72 months makes the ZDX one the best sporty crossover values in the business.

All the electric Chevrolet models

EV batteries Stanford — Silverado EV, Equinox EV, and Blazer EV at a Tesla Supercharger; via GM.

Chevrolet is offering 0% financing for up to 60 months on all three of its Ultium-based EVs – and they’re all winners. The Silverado can be spec’ed up to a 10,500 lb. GVWR, making it capable enough to tow whatever horse, boat, or RV you put behind it.

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On the crossover side, both the Chevy Blazer EV and Equinox EV each offer their own takes on the five-passenger family SUV, with the cost of base model Equinox LT FWD models with 319 miles of EPA-rated range dropping to just $27,500 after you apply the $7,500 Federal tax credit (which, for now, is still a thing).

Dodge Charger

As Stellantis flip-flops its way towards some kind of electrified future, Dodge is hoping that at least a few muscle car enthusiasts with extra cash will find their way to a Dodge store and ask for the meanest, loudest, tire-shreddingest thing on the lot without caring too much about what’s under the hood.

For them, Dodge has the new electric Charger. And if you still owed money on the Hemi you just totaled, Dodge will help get the deal done on its latest retro-tastic ride with a $3,000 rebate plus 0% financing for up to 72 months!

GMC Hummer EV

The biggest Ultium-based EVs from GM’s commercial truck brand are seriously impressive machines, with shockingly quick acceleration and on-road handling that seems to defy the laws of physics once you understand that these are, essentially, medium-duty trucks. This month, GMC is doing its best to move out its existing inventory of 2024s and ’25s so if you’re a fan of heavy metal you’ll definitely want to stop by your local GMC dealer and give the Hummer EV a test drive.

Honda Prologue

Honda-Pologue-2025 — 2024 Honda Prologue; via Honda.

The Honda Prologue was one of the top-selling electric crossovers last year, combining GM’s excellent Ultium platform with Honda sensibilities and Apple CarPlay to create a winning combination. Even so, there’s still some remaining 2024 inventory out there. To make room for the 2025 models, Honda is offering 0% APR for up to 72 months on the remaining 2024s.

Hyundai IONIQ 6

From some angles, the Porsche influences in the Hyundai IONIQ 6′ design are obvious – but not so much so that it seems like a copy of anything. It’s aerodynamically efficient, comfortable, quick, offers up to 361 miles of range, can charge just about anywhere, and now through June 2nd, it’s available with 0% financing for up to 48 months.

Kia EV9

If you were waiting for a three-row SUV from a mainstream brand with a great warranty and normal doors, you’ve probably already checked out the Kia EV9. You’re not alone. Kia keeps setting EV sales records, and the EV9 is helping to drive those sales forward.

Kia’s electrified sales train doesn’t seem to be slowing down anytime soon, either. In addition to seeing some substantial discounts out there, you can finance a Kia EV9 at 0% for 72 months through Memorial Day.

Lexus RZ

Starting at $55,175, the Lexus RZ promises up to 266 miles of EPA-rated range from a 72.8 kWh battery back in the “base” RZ300e (and 224 from the top-shelf RZ450e). With up to 308 hp and over 195 lb-ft of instant, all-electric torque, the RZ promises to be one Lexus’ zippier rides in any trim.

US News is reporting that remaining 2024 and ’25 Lexus RZ models qualify for 0% financing for up to 72 months in some regions.

Nissan Ariya

Nissan-new-EV-partners — 2024 Nissan Ariya.

I’ve already said that the Nissan Ariya didn’t get a fair shake. If you click that link, you’ll read about a car that offers solid driving dynamics, innovative interior design, and all the practicality that makes five-passenger crossovers the must-haves they’ve become for most families. With up to 289 miles of EPA-rated range, Tesla Supercharger access, and 0% interest from Nissan for up to 72 months, Nissan dealers should have no trouble finding homes for these.

Subaru Solterra

Despite being something of a slow seller, this mechanical twin of the Toyota bZ4X EV seems like a solid mid-size electric crossover with some outdoorsy vibes and granola style that offers more than enough utility to carry your mountain bikes to the trail or your kayaks to the river. Add in 227 miles of range, some big discounts, and 0% financing for up to 72 months, and this should be a great month for electric Subaru fans to drive home in a new Solterra.

Volkswagen ID.4

Volkswagen-ID-top-selling — VW ID.4; via Volkswagen.

One of the most popular legacy EVs both in the US and Europe, the ID.4 offers Volkswagen build quality and (for 2024) a Chat-GPT enabled interface. To keep ID.4 sales rolling, VW dealers are getting aggressive with discounts, making this fast-charging, 291 mile EPA-rated range, 5-star safety rated EV a value proposition that’s tough to beat.

This month, get a Volkswagen ID.4 with 0% financing for up to 72 months or a $5,000 customer cash bonus to stack with it.

Disclaimer: the vehicle models and financing deals above were sourced from CarsDirect, CarEdge, and (where mentioned) the OEM websites – and were current as of 11MAY2025. These deals may not be available in every market, with every discount, or for every buyer (the standard “with approved credit” fine print should be considered implied). Check with your local dealer(s) for more information.

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Mercedes-AMG teases first-ever bespoke, 1,000 hp electric super sedan

Published

10 hours ago

May 11, 2025

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Mercedes-AMG teases first-ever bespoke, 1,000 hp electric super sedan

New Mercedes-AMG electric super-saloon set to be the Porsche Taycan’s worst nightmare

Mercedes high-performance arm is about to hurl an all-electric, 1,000 hp GT squarely into Porsche Taycan territory – but will world-beating performance and a bespoke EV chassis be enough to convince the AMG faithful to pony up for an EV?

Despite excellent driving dynamics, screens for days, and acceleration that makes you feel like the finger of God is pressing into the seat, Mercedes-AMG’s EQE and EQS models were also cursed with jellybean styling and saddled with a confusing “is it an S class or isn’t it an S class” sub-brand that, together, probably turned more people off to EVs than on.

But Mercedes is making changes to right the ship. First, it’s dumping the EQ sub-brand and merging the styling language so that its next-generation EVs will be at least as good-looking or ugly as their ICE-powered cousins – and, second, it’s giving AMG a chassis of its own to lay down a marker and, the company hopes, make the latest generation of international super saloon buyers forget all about Xiaomi.

The newest, as-yet unnamed AMG GT will be based on an entirely bespoke platform called AMG.EA, rather than being based on an existing Mercedes-Benz EV. AMG.EA reportedly makes use of several new (to AMG, at least) technologies, including a pair of axial flux electric motors that are lighter and more powerful than the radial motors used in most EVs, while being smaller, as well.

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Those AMG motors are expected to receive power from a flat, low-slung battery pack and put out at least enough power and torque to chase Porsche’s super-powered Taycan Turbo GT, which itself is good for over 1,000 hp and 0-100 kmh (62 mph) in just 2.2 seconds.

The overall proportions and rakish, sloping windshield are already clearly visible, despite the heavy camo, and it looks great. If there’s anything here to really criticize, though, it’s the bizarre echoing of Mercedes’ three-pointed star motif baked into the head- and tail-lights – which just doesn’t work for me, at all.

That said, I think Mercedes lost its way the first time they ever made the star light up. That made it a fashion brand in my book, and not the engineering powerhouse I grew up with. If you’re like me, and there’s a bunch of rowdy kids playing on your lawn, head on down to the comments and let me know.

Electric AMG image gallery

SOURCE | IMAGES: Mercedes-AMG.

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Tesla employees ask Elon Musk to resign, confirm massive demand problem, get fired for it

Published

13 hours ago

May 11, 2025

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Tesla employees ask Elon Musk to resign, confirm massive demand problem, get fired for it

Some Tesla employees officially asked for Elon Musk to resign as they confirmed the automaker is facing a massive demand problem, which they attribute to the CEO.

One employee got fired for it.

Regardless of the political spectrum, there’s no doubt that many Tesla employees still support CEO Elon Musk amid his extreme politicization, whether because they agree with his politics or because they support his vision for Tesla to become an AI and robotics company.

However, not all Tesla employees agree.

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There’s a growing movement within Tesla employees that recognizes that Musk is currently hurting Tesla’s mission to accelerate the advent of electric transport by alienating a large part of the consumer base and politicizing Tesla’s products.

In 2024, Tesla’s sales declined for the first time in a decade, and in Q1 2025, the decline greatly accelerated.

Tesla has been trying to blame the acceleration on the Model Y changeover in the first quarter, but as we have extensively reported over the last few months, there is plenty of evidence that demand is crashing despite the new Model Y’s availability.

Some Tesla employees recognize what is happening, and they are afraid that the company is ignoring Musk’s negative impact on demand.

A group of current and former Tesla employees published an open letter in which they wrote:

The damage done to Elon’s personal brand is now irreversible and as the public face of Tesla, that damage has become our burden. We are now at a crossroads: continue with Elon as CEO and face further decline as customers abandon the brand, or move forward without him and allow our products and mission to succeed or fail on their own.

They are hoping for the latter to happen, but Musk and the board have completely ignored the demand problem.

The Tesla employees believe that Musk’s announcement that he will “refocus” on Tesla and spend less time on DOGE during Tesla’s earnings call last month was an example of that:

Elon’s recent claim that he is “refocusing” on Tesla is not only tone-deaf, it’s insulting. It implies that the hardships of the past six months stem from a lack of his attention, not from his actions. It shifts the blame onto the very people who have held this company together. Let’s be clear: we are not the problem. Our products are not the problem. Our engineering, service, and delivery teams are not the problem. The problem is demand. The problem is Elon.

The employees highlight how EV sales were up 10% in Q1 in the US while Tesla’s sales were down 9%.

The group of employees is also not buying Tesla’s excuse that it was simply due to people waiting for the new Model Y as they now confirm that thousands of new Model Ys are now sitting in inventory:

Now those very cars are sitting unsold, growing week after week. Production is running better than ever. Quality is high. Processes are strong. Demand is what’s broken. This is not a product problem. It is a leadership problem.

Electrek reported over the last few weeks that new Model Ys have been showing up as inventory vehicles despite Tesla opening up orders just weeks ago.

They are officially asking for Tesla to move forward without Musk as CEO

Tesla is ready to move forward. And we’re ready to move forward without Elon as CEO.

One of the Tesla employees behind the letter, Matthew LaBrot, has been let go, and he claims it’s due to his association with the letter.

He published it on a website and said on LinkedIn that he was let go because of it.

LaBrot had been at Tesla for more than 5 years and he was “Staff Program Manager for Sales and Delivery Training Programs” for the last 3 years.

A X account was also created to share the letter, but it was suspended by the platform, which is owned by Musk, who calls himself a “free speech absolutist.”

Tesla’s demand issues are getting so significant that the automaker told workers at Gigafactory Texas working on the Cybertruck and Model Y production lines to take a full week off.

Electrek’s Take

I’m happy to see some Tesla employees challenging the false narrative that there are no real demand issues. I liked how the letter framed the situation. It made it clear that Musk is the source of Tesla’s main problems right now.

Ignoring Tesla’s problems with the hope that you will soon figure out self-driving, even though you have been wrong about it for years, won’t make them disappear.

Unfortunately, Tesla is making it clear that injecting a dose of reality into this narrative will get you fired.

It’s a really sad time for a once-incredible company that had a massive impact on the auto industry and accelerated electrification.

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