Recent announcements by South Korea and Taiwan that they were open to investing $54 billion and $80 billion, respectively, in a new Alaska pipeline that would transport natural gas from Arctic oilfields along a pathway similar to that of the Trans-Alaska oil pipeline have Alaskans both excited and yet skeptical. They have, after all, been waiting for decades.
Should the new pipeline – and new mining projects – come to fruition, by the early 2030s the 49th state could be in the midst of a new (liquid) gold rush – making the $7.2 million Alaska Purchase, authorized by Secretary of State William Seward, a better bargain than ever.
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