The City of Vancouver’s ocean-dependent industries are a crucial economic driver to the City and its “Greenest City” reputation. A new study concludes that both of these could be negatively impacted by an oil spill as a result of a nearly seven-fold increase in tanker traffic, from 5 to 34 per month, resulting from Kinder Morgan Canada’s pipeline expansion proposal.
The report, titled “Potential economic impact of a tanker spill on ocean-dependent activities in Vancouver, British Columbia” concludes that a major oil spill (16 million litres) could negatively impact Vancouver’s marine dependent economy by $380 million-1.23 billion in output value.
The report looks at the performance of Vancouver’s five key ocean-dependent activities that are closely linked to the condition of the marine environment:
- Commercial fishing
- Port activities (shipping and cruises)
- Inner harbour transportation
- Tourism (marine recreation, waterfront events, visiting beaches and seawall)
- Recreation
The report analyzes a 16 million litre spill scenario at the First or Second Narrows in May and in October, and finds that the Vancouver economy experiences larger losses under a May spill scenario than an October spill scenario since roughly 50% of ocean-based economic activity occurs during peak tourist season between May 15-Sep.1. Total economic losses resulting from a May spill could be 115%-175% higher than from an October spill.
In the event of a spill in May, the local economy could suffer total losses in the range of:
- $380 million-1.23 billion in output value
- $201-687 million in GDP
- 3238-12881 person years of employment
Source: City of Vancouver
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