Multnomah County mulls 'risk bonding' for seismically-vulnerable Portland fuel tank hub

Multnomah County is actively deliberating the introduction of 'risk bonding' as a strategy to bolster safety for the Critical Energy Infrastructure Hub, an extensive array of fuel tanks along the Willamette River in Portland. Concerns about the vulnerability of these tanks to a significant Cascadia earthquake have been prevalent among community members and environmental advocates alike. The proposed risk bonding could provide financial backing for necessary upgrades and emergency preparedness measures aimed at safeguarding public safety and the environment. Officials recognize that the potential consequences of an earthquake could be catastrophic, leading to significant fuel spills and other hazards. This proactive approach highlights a shift toward prioritizing infrastructure resilience amid increasing seismic activity in the region.

The conversation surrounding risk bonding underscores the importance of addressing local concerns while ensuring the community's overall safety. As such discussions unfold, they may influence broader policies on energy infrastructure management in earthquake-prone areas. The outcome of these deliberations could serve as a model for other municipalities grappling with similar risks.