The General Assembly finds and declares that the increasing energy requirements of the State and nation continue to exceed domestic sources of energy supply and that demand must be met, at least in the near future, by imported oil. Construction of deepwater ports in waters adjacent to the continental shelf of the United States could accommodate oil tenders too large for present ports and port facilities. As compared to smaller tanker systems, transfer of oil to the United States by these large tankers may have certain advantages, including assured access to the world’s total petroleum shipping fleet, a reduction in economic costs and safety hazards, increased transportation efficiency, and reduced environmental hazards to harbors and shorelines. The legislature, in recognition of these objectives and those of protecting the coastal environment, regulating growth and determining land use, and in order to carry out its delegated responsibilities under the federal Deepwater Port Act of 1974, hereby defines the policy and procedure to advance and protect the interests of the people of the State of Maryland in the location, construction and operation of deepwater ports in the waters beyond the State.