The secretary's decision on the deepwater port license application of Texas Offshore Port, Inc.

The Deepwater Port Act of 1974 authorizes the Secretary of Transportation to issue Licenses for the ownership, construction and operation of deepwater ports. Deepwater ports are facilities built offshore, connected to the mainland by pipeline, to permit the importation of crude oil using larger tankers than can be accommodated in most United States ports. The economic and environmental benefits of deepwater ports can be substantial. However, the use of extremely large tankers with the resulting possibility of significant oil spills and the potential market power of a large deepwater port require that any license be structured to minimize the possibility that the port will be operated other than in the public interest. The Deepwater Port Act requires that the Secretary take these and other considerations into account in deciding whether to issue a license, and under what conditions. Includes the terms of the issue and the detailed support of decision.