President Trump reveals $8.4 billion South Korea EOR technology deal
President Trump just revealed a big $8.4 billion deal with South Korea to invest in enhanced oil recovery (EOR) technology: basically, using gasses like carbon dioxide to squeeze more oil out of old fields.
This is part of a much larger $350 billion investment package that came out of last year's U.S.-South Korea trade talks.
U.S.-South Korea package includes nuclear plants
Alongside the oil push, the full package includes plans for eight nuclear plants and a new power plant in Texas.
Some projects, like a liquefied natural gas (LNG) pipeline in Alaska, are still up in the air as they depend on legal and business approvals and could even shake up local politics.
The EOR technology has its critics for keeping fossil fuels around longer, but Trump says it's all about boosting America's energy game and security as election season heats up and people worry about global conflicts and high fuel prices.