On Tuesday February 26, CRED released a report highlighting the risks of Kinder Morgan’s proposed Trans Mountain pipeline. In addition to pulling together the most important data about the project’s background, Kinder Morgan’s safety record, and potential impacts of a spill, our group uncovered some of the project’s main economic risks. Some of our key findings:
Jobs: The proposal would create 35 permanent jobs. And oil spill would put at risk industries that together employ over 200,000 people locally including tourism, film and TV, real estate, high tech, agriculture and coastal industries.
Tax revenues: The expansion would not make a significant contribution to provincial tax revenues.
Liability: In the case of a major spill, taxpayers would likely be responsible for the burden of costs, as a company’s liability is limited to $1.3 billion and a major spill could easily cost ten times this amount.
Some of CRED’s advisors highlight the most concerning elements of the report here:
Read or download the full report to learn more about the risks we uncovered.