Metro Vancouver's Hidden Resource Economy Booms with $13.9 Billion in Crude Shipments

Metro Vancouver is often seen as a post-industrial economy of real estate, technology, and tourism. However, it is also a significant resource economy that operates in plain sight.

The region serves as the head office, trading floor, and export gateway for many natural resources extracted from across British Columbia and Canada. This includes oil, gas, electricity, and other commodities that are transported through the Port of Vancouver, one of the busiest ports in North America.

The Trans Mountain expansion, completed in May 2024 after a decade-long battle, has nearly tripled the capacity of the pipeline connecting the Alberta oil sands to the West Coast. In its first year of operation, crude movements from Alberta to B.C. rose more than fivefold, with the volume of crude exported through B.C. surging sixfold.

The value of crude oil shipped through B.C. in the first year alone was nearly $13.9 billion, a trade category that barely existed before. The region also hosts liquefied natural gas (LNG) facilities, including Woodfibre LNG, which is expected to produce 2.1 million tonnes of LNG per year.

The resource economy in Metro Vancouver supports thousands of jobs and generates significant revenue for the province. However, it also raises concerns about environmental impact, particularly with regards to oil spills and climate change.