Getting out of the oil business no easy task for Port.(Port of Long Beach, California)

Los Angeles Business Journal | September 6, 1999| | Copyright

The Port of Long Beach has many reasons to cheer these days.

Container trade through July is up by more than 6 percent from a year ago, West Coast shippers and dock workers recently agreed to a new contract, and the Asian economic crisis seems to be abating.

But the port is losing millions of dollars from a business it never wanted to enter and would like to get out of: oil. The situation is a growing source of conflict between competing interests in Long Beach.

In 1994, amid projections that its trade volume would more than double by 2020, the Port ...

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