[Congressional Record Volume 141, Number 35 (Friday, February 24, 1995)]
[Senate]
[Pages S3080-S3081]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


             RESPONSE TO ADMINISTRATION'S OIL IMPORT STUDY

  Mr. DOLE. Mr. President, I rise today to express my concern for a 
lack of response by President Clinton to a recent report by the 
Department of Commerce. This report indicates our dependence on oil 
imports poses a threat to national security.
  This is not a new report; we have heard this before. What is new is 
the lack of action that has been taken by this administration. In 
response to this report, President Clinton has decided not to respond; 
he has chosen to continue on with the same energy policies that have 
put us at risk.
  Last year, our country imported more oil than it ever has before. 
Domestic production has fallen and American oil and gas workers are 
losing jobs. The administration should not ignore this plight.
  The Commerce Department study has little to say about stripper wells. 
That troubles me. Nationwide, there are more than 478,000 stripper 
wells. These stripper wells produce more than 1.4 million barrels a 
day. When foreign oil floods this country, the price of oil falls below 
the cost of operating most stripper wells. That's what has happened in 
the last quarter of 1993 and the first quarter of 1994.
  The Commerce Department concedes this saying, ``The impact of low 
prices has been especially severe on small producers operating stripper 
wells'' yet fails to provide a solution. Stripper wells serve an 
important role in this country and without them our dependency on 
foreign oil only increases.
  This administration has ignored the plight of the industry for some 
time now. Various proposals have been discussed with the President, but 
no action was taken. The failure to recognize the implications to 
national security as well as to the economy is unacceptable.
  There is a need to identify opportunities for assistance to the 
domestic oil and gas industry. For this reason, I have cosponsored 
legislation with Senator Nickles and Senator Inhofe which will address 
the needs of this industry. The bill proposes support for 
[[Page S3081]]  production and addresses numerous issues that pose 
unnecessary burdens to the industry.
  I believe this legislation is necessary to begin the discussion on 
the status of the domestic oil and gas industry and in light of the 
recent lack of action by the administration, a review of our Nation's 
energy policies and approaches.


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