A major tanker spill off the coast of northern British Columbia could wipe out any potential economic gains from the proposed Northern Gateway Pipeline project, according to new research from the University of British Columbia.
The study, sponsored by WWF-Canada and conducted independently by UBC fisheries economists Ngaio Hotte and Rashid Sumaila, estimates that losses of $300-million in economic activity along with spill cleanup costs of up to $9.6-billion could nullify potential economic gains proposed by Enbridge Northern Gateway Pipelines LLP.
“We compared the economic benefits of the project to potential losses of spills of varying scales and found that a large-scale spill could cost local fishermen, the Port of Prince Rupert, BC Ferries and marine tourism operators roughly $300-million, 4,000 full-time jobs and $200-million in contribution to GDP over 50 years,” says Hotte.
Read the full article at Phys.org.