BC is losing $30 million a day in exports due to the ongoing anti-pipeline blockades that continue across Canada. These losses may be permanent.
Andrew Wynn-Williams, Vice President of the Canadian Manufacturers and Exporters, estimates that BC is losing $30 million a day in exports due to the ongoing anti-pipeline blockades that continue across Canada. CME estimates that exports are down $425 million across Canada.
Speaking to Business in Vancouver, Wynn-Williams said, “Any time there’s that kind of uncertainty, it’s not going to be good. People will hang on to their investment dollars … The longer it goes on, the harder it’s going to be to recover.”
According to BIV, “his organization is encouraging government to consider investment programs to help industry following the disruptions that kicked off in opposition to the Coast GasLink pipeline in northern BC.”
If the anti-pipeline blockades continue, then there is a significant risk that ships and cargo will be permanently diverted to United States ports.
“The congestion that’s created from this obviously stretches the supply chain, but more importantly what it creates is unreliability on the international stage from a reputational perspective,” according to Mike Leonard, president and CEO of the BC Maritime Employers Association.
Between February 9-15, there was a 20 percent decrease in work shifts from the same time last year at the Prince Rupert port as a result of a blockade of a single rail line at that location.
“We have 7,000 highly skilled men and women who want to go to work every day, want to perform their jobs safely and want to provide for their families, and they’re basically caught up in this,” Leonard said.
Libby’s Desk
Commentary and must-reads from Libby’s desk, straight to your inbox.
TPM Newsletter
The Post Millennial’s top stories, delivered to your inbox.
