VANCOUVER, B.C. – The BC government announced today that there are now added benefits that have come from the 5 conditions that the provincial government set on the Kinder Morgan Trans Mountain Pipeline Expansion Project.
“The five conditions is an articulation of the way we do business in British Columbia,” Premier Christy Clark said. “We set the bar high to stand up for B.C. to protect our coast and environment, ensure opportunities for First Nations participation and secure a fair share of economic benefits for all British Columbians.”
The government says Justin Trudeau has taken action when it comes to condition #2 which is related to world-leading marine spill prevention, response and recovery with a $1.5-billion Oceans Protection Plan.
“B.C. has identified 10 areas where action is required on our coast to achieve a world-leading system. The Federal Government’s commitment to taking action on all 10 areas through the Ocean Protection Plan means the largest share of the $1.5 billion investment would be made on the British Columbia coast. That includes First Nations and community training, new technology, staff and equipment including two new salvage tugs capable of rescuing and towing large vessels.”
Trans Mountain has also pledged to make significant enhancements to condition #2.
“These include a commitment that tankers will be escorted by a tug for the entire transit up to Race Rocks, and a $150 million investment that will result in a doubling of spill response capacity and halving response times along the Salish Sea.”
The 5th condition from the government was to do with B.C. getting a fair share of the benefits from the project. This has resulted in the following agreements:
- British Columbians first in line for jobs of the more than 75 ,000 person-years of employment
- Will boost B.C.’s GDP by $19.1 billion during construction and operations over 20 years
- Generates over $2.2 billion in tax revenue for provincial and local governments
Also of note, the government has come to an agreement with Kinder Morgan to receive a significant investment of up to $1 billion. The company will apparently pay the province between $25 and $50 million annually for 20 years. This is the first time in B.C. that a company will share revenue from a large industrial project directly with the Province.