The gravest risk to Portland and much of Northwestern Oregon is posed by the enormous tank farms that line the North Reach of the Willamette River. These tanks hold 90% of the fossil fuel used in the entire state of Oregon as well as other hazardous substances. When a big earthquake hits, these tanks will fail, causing cataclysmic spills into the Willamette and Columbia Rivers. Right now when disaster strikes the public is stuck with the bill. But Risk Bonds will hold the fossil fuel and chemical companies who own these tanks accountable. This is a proactive “Polluter Pays” plan. Bonding can require financial responsibility for all industrial disasters. This may encourage safety improvements and removal of hazardous structures.
On this episode of Locus Focus we talk with Melanie Plaut, with Oregon Physicians for Social Responsibility, about how risk bonds work and how Multnomah County is on the verge of taking risk bonding action.
Click here to listen to or download this program.
You can find out more about Risk Bonds at the next Rumble on the River Community Forum,
Wednesday, June 26th
Info Tables - 5:45 PM, Panel - 6:30 PM
Multnomah Building
501 SE Hawthorne Blvd., Portland Boardroom 100
PANEL:
Mary King: Retired Economist with Risky Business
Sharon Meieran: Multnomah County Commissioner, District #1
Melanie Plaut M.D.: Oregon Physicians for Social Responsibility and Risky Business John Talberth: Center for Sustainable Economy, Founder, President and Senior Economist Chris Voss: Multnomah County Office of Emergency Management, Director
RUMBLES are always FREE.