Bridge to the Future
According to the U.S. Department of Energy, the United States will continue to rely upon oil and other fossil fuels over the next several decades while alternative sources of energy are developing. However, there is not enough infrastructure to get North American crude oil to the West Coast where it can be processed into fuels and products. Vancouver Energy can bridge that gap.
Vancouver Energy will provide jobs, investment and energy independence to the state of Washington and the U.S.
- $2 billion to the local and regional economy through jobs, tax revenues, income and profits, when operating at full capacity.
- $22 million one-time payment in state and local taxes during construction.
- $7.8 million in tax revenue annually once fully operational.
- $210 million in construction investment.
- 320 full-time or equivalent jobs at the terminal during construction.
- 176 direct on-site jobs and an additional 440 direct off-site jobs once fully operational.
- Over 1,000 jobs – direct, indirect and induced – will be supported on average annually.
- Potential to displace 30 percent of foreign crude oil imported by the United States to the West Coast when operating at full capacity.
- Brings less carbon-intense crude oil to the entire West Coast for manufacturing into transportation fuels; preferentially sends crude oil to Washington state refiners first.
- Use of Bakken crude oil instead of current sources refined at Washington state refineries can reduce carbon emissions by 1.5 million tons per year, equal to removing 250,000 vehicles from the road annually. *Calculations based on data from Washington Department of Ecology and California Air Resources Board.