[Congressional Record Volume 142, Number 45 (Thursday, March 28, 1996)]
[House]
[Page H2971]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                            NOT IF BUT WHEN

  (Mr. ISTOOK asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. ISTOOK. Mr. Speaker, no nation can be secure if it depends on 
another nation for its economic lifeblood. Five years ago, we sent 
500,000 American troops to the Persian Gulf to fight for oil. In 1991 
we imported 45 percent of our oil. Today, we import 52 percent, 9 
million barrels per day, annually $60 billion going out of the country 
to buy oil.
  The number of producing wells in this country has declined by 11 
percent since the gulf war. Instead of becoming less dependent on 
foreign oil, we are more so. No nation can be secure with such 
dependency, and because 60 percent of America's oil wells, 60 percent, 
Mr. Speaker, are developed not by major oil companies but by 
independent producers, it is in America's national interest to do all 
that we can to preserve America's independent producers of petroleum.

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