Coastal Port Advisory Authority; purpose; legislative findings

The legislature hereby finds and declares that the development of oil and gas resources is essential to promote Louisiana's economic growth and the ability of the maritime, oil and gas industries to compete in regional, national, and global markets and to provide a high quality of life for the people of this state. The legislature declares and finds the following: (1) The Gulf of Mexico has substantial oil and gas resources. (2) Many of these resources are considered to be in the deep waters of the Gulf of Mexico. (3) Major energy companies are expressing renewed interest in the deepwater oil and gas resources of the Gulf of Mexico as expressed in recent federal oil and gas lease sales and in budgeted capital expenditures. (4) The state of Louisiana was once best suited to serve as the host state for the fabrication of the infrastructure needed to develop shallow and some deepwater Gulf of Mexico oil and gas resources because of its competitive advantage of world class coastal ports. (5) Due to the need for larger and heavier infrastructures to serve the continued quest for deep water resources combined with the current limitations of Louisiana's coastal ports, the state of Louisiana, and the United States of America, are losing market shares, for the fabrication of deep water infrastructure projects. (6) Economic opportunities and job creation resulting from improved coastal port infrastructures could create a renaissance of fabrication resulting from the proposed private investment of major energy companies in the deepwater resources of the Gulf of Mexico. (7) The state of Louisiana has a great opportunity to fund the greatest environmental project of our generation, the restoration of coastal Louisiana, from the proceeds of deepwater oil and gas resources as a result of previously adopted federal law and certain Louisiana constitutional amendments. (8) The state of Louisiana should move aggressively to determine how it can best fund improvements to its coastal ports in order to take advantage of the pending private sector investments in the deepwater resources of the Gulf of Mexico, and, thereby secure itself as the premiere province to host such activities, and further secure jobs for its citizens and improvements to the quality of life.