[Congressional Record Volume 142, Number 124 (Wednesday, September 11, 1996)]
[Senate]
[Page S10321]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




         U.S. FOREIGN OIL CONSUMPTION: HERE IS WEEKLY BOX SCORE

  Mr. HELMS. Mr. President, the American Petroleum Institute reports 
that for the week ending September 6, the United States imported 
7,400,000 barrels of oil each day, 1,300,000 less than the 8,700,000 
imported during the same week a year ago.
  Nevertheless, Americans relied on foreign oil for 53 percent of their 
needs last week, and there are no signs that the 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 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 7,400,000 barrels a 
day.

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