[Congressional Record Volume 142, Number 59 (Thursday, May 2, 1996)]
[Senate]
[Page S4615]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




   FOREIGN OIL CONSUMED BY UNITED STATES? HERE'S THE WEEKLY BOX SCORE

  Mr. HELMS. Mr. President, the American Petroleum Institute reports, 
for the week ending April 26, that the United States imported 8,052,000 
barrels of oil each day, 10,000 barrels less than the 8,062,000 barrels 
imported during the same period a year ago. This is one of those rare 
weeks when less oil was imported in 1996 than for the same week in 
1995.
  In any case, Americans now rely on foreign oil for more than 50 
percent of their needs, and there are no signs that the 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 sure to 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--now 8,052,000 barrels a 
day.

                          ____________________