[Congressional Record Volume 142, Number 68 (Wednesday, May 15, 1996)]
[Senate]
[Page S5090]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




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

  Mr. HELMS. Madam President, the American Petroleum Institute reports 
that for the week ending May 10, the United States imported 8,623,000 
barrels of foreign oil each day, 1,411,000 barrels more than the 
7,212,000 barrels imported during the same week a year ago.
  This means that Americans now rely on foreign oil for 57 percent of 
their needs, and there are no signs that this upward spiral 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 interested in restoring domestic production of oil? 
Politicians had better ponder the economic calamity certain to occur in 
America if and when foreign producers shut off our oil supply--or 
double the already enormous cost of imported oil flowing into the 
United States--now 8,623,000 barrels a day.

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