[Congressional Record Volume 142, Number 44 (Wednesday, March 27, 1996)]
[Senate]
[Page S3004]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 HOW MUCH FOREIGN OIL IS CONSUMED BY UNITED STATES? HERE'S WEEKLY BOX 
                                 SCORE

  Mr. HELMS. Mr. President, the American Petroleum Institute reports 
that, for the week ending March 22, the U.S. imported 6,594,000 barrels 
of oil each day, 347,000 barrels more than the 6,247,000 barrels 
imported during the same period a year ago.
  Americans now rely on foreign oil for more than 50 percent of their 
needs, and there is no sign that this upward trend will abate. Before 
the Persian Gulf war, the United States obtained about 45 percent of 
its oil supply from foreign countries. During the Arab oil embargo in 
the 1970's, foreign oil accounted for only 35 percent of America's oil 
supply.
  Anybody else interested in restoring domestic production of oil--by 
U.S. producers using American workers? Politicians had better ponder 
the economic calamity that will occur in America if and when foreign 
producers shut off our supply, or double the already enormous cost of 
imported oil flowing into the U.S.--now 6,594,000 barrels a day.

                          ____________________