Vancouver oil terminal would supply West Coast, though that could change

Steve Wilhelm, July 11, 2014, Puget Sound Business Journal

A $190 million crude oil transfer terminal proposed for Vancouver, Wash., is designed to supply oil domestically.

However, Jared Larrabee, vice president and general manager of the proposed Vancouver Energy Terminal, didn’t completely rule out the possibility of future exports during a visit to PSBJ offices to drum up support for the project.

“We designed this facility and intention is to meet West Coast domestic demand,” he said. “Today exports are illegal. We understood that when we submitted the application.”

California refineries make up about two-thirds of the West Coast’s capacity to refine 3 million barrels of crude a day. As volume of crude from Alaska crops at North Slope oil fields run down, the percent of crude coming from overseas to the West Coast is increasing, now about one-third of the total.

Larrabee contends the facility would help bring more energy Independence. Similar, smaller facilities are planned for the Grays Harbor area.

“This is an energy independence play,” he said. “It brings a lot of jobs and economic benefit throughout the entire supply chain.”

Washington refineries handle about 632,000 barrels a day, compared to 1.9 million in California, according to numbers from the Energy Information Administration.

Contact Form Powered By : XYZScripts.com