DECLARATIONS OF PURPOSE AND POLICY.

SEC. 502. DECLARATIONS OF PURPOSE AND POLICY. (a) Purposes.— The purposes of this title are to— (1) update and improve the Deepwater Port Act of 1974; (2) assure that the regulation of deepwater ports is not more burdensome or stringent than necessary in comparison to the regulation of other modes of importing or transporting oil; (3) recognize that deepwater ports are generally subject to effective competition from alternative transportation modes and eliminate, for as long as a port remains subject to effective competition, unnecessary Federal regulatory oversight or involvement in the ports’ business and economic decisions; and (4) promote innovation, flexibility, and efficiency in the management and operation of deepwater ports by removing or reducing any duplicative, unnecessary, or overly burdensome Federal regulations or license provisions. (b) Policy.— Section 2(a) of the Deepwater Port Act of 1974 (33 U.S.C. 1501(a)) is amended— (1) by striking “and” at the end of paragraph (3); (2) by striking the period at the end of paragraph (4) and inserting a semicolon; and (3) by inserting at the end the following: “(5) promote the construction and operation of deepwater ports as a safe and effective means of importing oil into the United States and transporting oil from the outer continental shelf while minimizing tanker traffic and the risks attendant thereto; and 110 STAT. 3926 “(6) promote oil production on the outer continental shelf by affording an economic and safe means of transportation of outer continental shelf oil to the United States mainland.”.