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Vancouver Energy Welcomes Labor Endorsements.

"We'll work together to generate jobs, ensure safety"

VANCOUVER, Wash., Oct. 17, 2014 /PRNewswire/ -- Vancouver Energy officials are very pleased to receive labor endorsement and excited to start work with the major construction trade unions in Southwest Washington and Oregon to ensure the proposed $210 million crude oil distribution terminal at the Port of Vancouver USA is safely built and becomes a tremendous energy and economic asset for local communities, the region and the country.

"We are excited to work together to generate jobs, ensure safety and build this important infrastructure that will help advance U.S. energy independence," said Jared Larrabee, General Manager of Vancouver Energy. "Vancouver Energy will bring much-needed, family-wage jobs and billions of dollars in economic value during construction and operation."

The Columbia Pacific Building Trades Council, Pacific Northwest Regional Council of Carpenters, and International Union of Operating Engineers earlier this week announced their partnership with Vancouver Energy to build the project. Vancouver Energy is a joint venture of Tesoro, an independent refiner and marketer of transportation fuels, and Savage Companies, a supply chain solutions company. They have worked together for more than 10 years.

"The safety of the workers, employees and the community is our top priority in the construction and operation of the terminal," Larrabee said. "Protection of everyone working at the terminal, the surrounding community and the environment will be incorporated into every aspect of the terminal's design."

In terms of economic stimulus to Vancouver, Clark County and the region, the terminal will provide:

* $2 billion in economic value to the local and regional economy through labor income and tax revenues during construction and the first 15 years of operation, as well as income and profits created as a result of the terminal's direct, indirect and induced impacts;

* More than 1,000 direct, indirect and induced jobs on average annually;

* 320 full-time construction jobs and 616 direct on-site and off-site operations jobs, including 176 jobs on-site at the terminal and sourced from the local area;

* $22 million in state and local taxes during construction; and

* $7.8 million in tax revenue annually once fully operational.

The terminal will safely and efficiently transfer North American crude oil from rail to ship for distribution to West Coast refineries, where it will be converted into transportation fuels for American families and businesses. At full operation, the terminal will receive up to 360,000 barrels per day of North American crude oil that could reduce imports from foreign countries to the West Coast by 30 percent.

The project is currently being evaluated by the state's Energy Facility Site Evaluation Council (EFSEC), which will produce a draft Environmental Impact Statement for public review. EFSEC required Vancouver Energy to prepare preliminary analyses, reports and documents to address the range of potential impacts, which Vancouver Energy submitted to EFSEC in August and September.

The documents submitted to EFSEC by Vancouver Energy, while preliminary, demonstrate that any potential adverse impacts of the project can and will be mitigated appropriately, Larrabee said.

Ultimately EFSEC will submit a recommendation on the project to Governor Inslee, who decides whether Vancouver Energy should receive a permit.

About Vancouver Energy Vancouver Energy will serve a basic and important function: the safe transfer of North American crude oil from rail to ship. Doing so enables the crude oil to be efficiently transported to West Coast refineries, where it will be converted into transportation fuels for American families and businesses. Tesoro Refining & Marketing Company LLC and Savage Companies formed a joint venture to fully leverage their shared experience and expertise in safely and responsibly moving, storing and handling crude oil. The joint venture will develop, own and operate the proposed terminal at the Port of Vancouver USA C Vancouver Energy. For more information on Vancouver Energy, visit VancouverEnergyUSA.com.

CONTACT media@tsocorp.com (210) 626-7702

SOURCE Vancouver Energy
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Publication:PR Newswire
Date:Oct 17, 2014
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