Our first Credible Conversations forum was held May 29th in Vancouver. Over 100 business leaders, entrepreneurs, politicians, First Nations representatives and BC residents came together to discuss the economic risks of pipeline expansion and explore how to build a more diversified economy on the west coast.
*These are rough notes from the break-out sessions and are not meant to convey the opinions of all CRED members, or even all participants in the break-out group.
How could a new oil pipeline affect the real estate and property development industries?
Costs/risks:
- Value of homes detrimentally impacted
- Risk to property values
- Affects Vancouver’s brand
- Vancouver becoming a “petrol-port”
- Health impacts – fumes from trucks and tankers
- Harbour view affected
Benefits:
- Kinder Morgan media plugs help raise awareness about the region
- Kinder Morgan is reaching out to community regarding their proposal
- Economic growth = population growth, more development, higher real estate values
- Increased tax income to pipeline municipalities
Information needed:
- How much do people value the Vancouver brand?
- At what point is the impact too much to be allowable?
- How long does it take to recover from an oil spill?
- Is it possible to completely recover from an oil spill?
- What are the economic costs of environmental degradation i.e. airshed quality?
- Can Vancouver still be the “greenest city” if the project goes ahead?
- How much would it cost to insure the pipeline without government coverage?
- What / how many / for how long will new jobs be around for?
- Will the pipeline attract people to move to Vancouver?
- How would an earthquake affect the pipeline / tankers?