[Congressional Record Volume 142, Number 29 (Wednesday, March 6, 1996)]
[Senate]
[Pages S1551-S1552]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




  HOW MUCH FOREIGN OIL BEING CONSUMED BY UNITED STATES? HERE'S WEEKLY 
                                BOXSCORE

  Mr. HELMS. Mr. President, the American Petroleum Institute reports 
that, for the week ending March 1, the United States imported 6,329,000 
barrels of oil each day, 3 percent more--169,000 barrels more--than the 
6,160,000 barrels imported during the same period 1 year ago.
  Americans now rely on foreign oil for more than 50 percent of their 
needs. There is no sign that this upward trend will abate.
  Anybody else interested in restoring domestic production of oil--by 
U.S.

[[Page S1552]]

producers using American workers? The political primary season has 
forced the political and media establishment to take seriously 
American's deep-felt concern about economic insecurity and loss of jobs 
to foreign competition. It's about time they caught on. All it takes is 
a trip through North Carolina to see the scores of textile mills closed 
due to foreign competition to understand why Americans have a 
legitimate fear of losing their job or see their hard earned wages 
fall.
  Politicians had better ponder the economic calamity that will surely 
occur in America if and when foreign producers shut off our supply, or 
double the already enormous cost of imported oil flowing into the 
United States.

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