What would the economic cost of an oil spill be?

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This page builds on information from a Tsleil-Waututh Nation report that assesses the proposed Kinder Morgan pipeline and tanker project. You can read and download the full report here.

 

It is estimated that cleanup costs for a medium-large oil spill could be between $2.4 billion and $9.4 billion dollars.

Cleanup costs for an oil spill could be between $2.4 billion and $9.4 billion dollars.

 

Costs of cleaning oily waste would likely fall to residents and the BC government.

  • According to CRED, it is unclear whether Kinder Morgan would have to come up with clean up costs for land-based spills at all.
    • The City of Vancouver has proposed a bylaw that would force Kinder Morgan to cover the entire costs of a large-scale oil spill. However, the law has not yet been approved.
    • UBC’s Neighbourhoods Association has requested proof of insurance against spill damage, but this hasn’t been received. (CredBC)

The economic cost of a sizeable oil spill is far too great, and is a risk we simply cannot take.

We have the chance to focus on a sustainable economy by the stopping the proposed Kinder Morgan pipeline. Click here to learn more.

 

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You might also be interested in

How likely is an oil spill if the proposed Kinder Morgan pipeline goes ahead? Based on the Kinder Morgan's past record, an oil spill is likely to happen at least once in four years, and the proposed pipeline will make oil spills more likely. If the proposed pipeline is implemented, the likelihood of a spill in the Burrard Inlet over fifty years lies at 79-87%.
Is there an economic need for the proposed Kinder Morgan pipeline? There is no economic need for the proposed Kinder Morgan pipeline. We do not need to expand current pipeline infrastructure to export the oil we have available for export. Based on current supply and market predictions, current pipeline and rail infrastructure will suffice
Does British Columbia rely on the jobs created through the proposed Kinder Morgan pipeline? British Columbia does not rely on the jobs created through the proposed Kinder Morgan pipeline. Kinder Morgan promises that the pipeline would create 50 permanent jobs in British Columbia, and 40 in Alberta. Kinder Morgan has been unclear about how many temporary jobs would be created for construction.
What is Kinder Morgan’s record of spills? Since the 1960s, the longest period of time the Trans Mountain Pipeline has gone without a spill is approximately four years. Most of these spills have been of crude oil. Crude oil spills have dire and long-lasting impacts on the environment and are incredibly difficult to clean.

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