Major oil spill could cost Vancouver’s economy $1.2 billion: city report

Vancouver’s economy could suffer a $1.2-billion blow in case of a major oil spill caused by Kinder Morgan’s Trans Mountain pipeline expansion, concludes a new report released by the city.

Vancouver’s economy could suffer a $1.2-billion blow in case of a major oil spill caused by Kinder Morgan’s Trans Mountain pipeline expansion, concludes a new report released by the city.

The report, by the University of B.C.’s Fisheries Economics Research Unit, examined the potential economic costs of a 16-million litre spill in Burrard Inlet.

Researchers looked at the performance of five ocean-dependent activities that are closely linked to the marine environment, including commercial fishing, port activities, inner harbour transportation, tourism and recreation.

The report found that these activities directly employ four per cent of the city’s population and contribute more than $3 billion in gross domestic product to Vancouver’s economy every year.

“Ocean-dependent economic activities in Vancouver encompass only a portion of the local economy that could experience losses from a hydrocarbon spill in the Burrard Inlet. Still, the potential impacts of an oil spill run into hundreds of million dollars,” the report said.

The City of Vancouver is publishing a series of reports critical of the Trans Mountain expansion leading up to its submission of evidence next week to the National Energy Board, which is reviewing the project.

Kinder Morgan hopes to triple its bitumen-carrying capacity to 890,000 barrels a day by laying almost 1,000 kilometres of new pipe near the existing pipeline that runs from Alberta to Burnaby, B.C.

The expansion would increase the number of oil tankers in Burrard Inlet to 34 per month from five, according to the city.

Kinder Morgan did not immediately respond to a request for comment.

The report, which was commissioned by the city and released Friday, analyzed two spill scenarios in Burrard Inlet — in May and in October. It found the economy could suffer more than double the economic losses in spring during peak tourist season

A spill in May could cause total losses ranging from $380 million to $1.23 billion, without counting the cost of recovery and cleanup, it concluded.

The city also released a separate modelling animation showing the movement of oil following a hypothetical 16-million litre spill near the Second Narrows Bridge on the city’s east side.

Time-lapse animation showed multiple black specks, each representing 2,000 litres of oil, spreading toward West Vancouver before flowing back toward Coal Harbour and clinging to the shoreline around Burrard Inlet.

Just Posted

Hospitalizations jump in Red Deer due to opioid poisonings

Small city hospitals impacted more by opioid crisis

Central Alberta councils learn more about Bighorn Country proposal

A collection of central Alberta politicians are learning more about the province’s… Continue reading

High-speed chase led to fatal collision, jury hears

A Delburne man accused of manslaughter caused a fatal rollover collision during… Continue reading

‘Part of the solution:’ Alberta seeks proposals to build new refinery

EDMONTON — Alberta is looking for someone to build a new oil… Continue reading

Online ads spoil Christmas surprises, raising privacy concerns: experts

Lisa Clyburn knew she had found the perfect gift for her nine-year-old… Continue reading

Sebastian Giovinco, Jonathan Osorio and Adriana Leon up for top CONCACAF awards

Toronto FC’s Sebastian Giovinco and Jonathan Osorio are up for CONCACAF male… Continue reading

Huitema, Cornelius named 2018 Canadian Youth International Players of the Year

TORONTO — Canada Soccer has named striker Jordyn Huitema and defender Derek… Continue reading

Review: Too much Spider-Man? Not in the Spider-Verse

You might be forgiven for feeling superhero overload this holiday season. Had… Continue reading

‘Modern Family’s’ Sarah Hyland had second kidney transplant

LOS ANGELES — “Modern Family” star Sarah Hyland says she had a… Continue reading

Orlando SC acquires Canadian Tesho Akindele in trade with FC Dallas for cash

ORLANDO, Fla. — Canadian forward Tesho Akindele was traded to Orlando City… Continue reading

Koskinen notches third shutout, McDavid gets winner as Oilers blank Flames 1-0

EDMONTON — The Edmonton Oilers appear to have shored up their defence… Continue reading

Most Read