The proposed Vancouver Energy terminal will serve a basic and important function: the safe transfer of North American crude oil from rail to ship. The terminal at the Port of Vancouver will provide numerous benefits to Washington, both to the state’s energy needs and its economy.
In addition to the direct benefits to Washington State, Vancouver Energy is also committed to safety. The terminal recently announced it will begin operations at 50 percent of optimal capacity, and allow capacity to increase only after demonstrating the facility operates safely.
The revised application to state officials continues Vancouver Energy’s commitment to making the terminal at the Port of Vancouver a safe, reliable and beneficial project for the state, region and country. Go here to learn more about the terminal’s new safety measures.
Meeting Washington's Energy Needs
- Vancouver Energy will provide a steady, reliable supply of North American crude oil to Washington. As the supply of Alaska North Slope crude oil continues to decline over the 20-year life of the terminal, Vancouver Energy will play a critical role in fulfilling the state’s energy needs.
- Vancouver Energy will provide the petroleum that fuels the daily lives of Washington
residents. Washington is part of a region where petroleum provides 95 percent of the energy for transportation fuels, including gasoline, diesel and jet fuels. Washington consumes more jet fuel than all but seven other states. Other products critical to our way of life, from computer chips and refrigerators to toothpaste and bicycle tires, are made from petroleum.
- Vancouver Energy will provide the petroleum that fuels Washington’s economy. The state’s manufacturing, consumer goods, trade, agriculture and aerospace industries will not be able to function without abundant petroleum fuels at a reasonable cost.
Fueling Washington's Economy
- Vancouver Energy will provide up to $2 billion to the Washington economy, including supporting more than 1,000 jobs at full build out. The terminal will generate billions through labor income and tax revenues, as well as income and profits created as a result of the oil terminal’s direct, indirect and induced impacts.
- Vancouver Energy will produce up to $1.6 billion in labor income during its construction and assumed first 15 years of terminal operation. It will also make a payment of up to $22 million in state and local taxes during construction and generate up to $7.8 million in tax revenue a year that will go to state and local governments for public facilities and services.
- Clark County and surrounding counties will benefit with up to 320 full-time jobs during the construction of Vancouver Energy. Plus, up to 176 direct on-site jobs and 440 direct off-site jobs will be created as a result of terminal operations.
- Up to 1,000 jobs will be supported by Vancouver Energy once the terminal is fully operational.