Major oil spill could threaten Vancouver’s economy
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 ...
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