[Congressional Record Volume 143, Number 22 (Wednesday, February 26, 1997)]
[Senate]
[Page S1658]
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 February 21, the U.S. imported 7,250,000 
barrels of oil each day, 1,156,000 barrels more than the 6,094,000 
imported during the same week a year ago.
  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 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 7,250,000 barrels a 
day.

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