[Congressional Record Volume 142, Number 141 (Thursday, October 3, 1996)]
[Senate]
[Page S12286]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




        HERE'S WEEKLY BOX SCORE ON U.S. FOREIGN OIL CONSUMPTION

  Mr. HELMS. Mr. President, the American Petroleum Institute reports 
that for the week ending September 27, the United States imported 
6,536,000 barrels of oil each day, 1,258,000 less than the 7,794,000 
imported during the same week a year ago.
  Nevertheless, Americans relied on foreign oil for 50 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 
approximately 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 6,536,000 barrels a 
day.

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