[Congressional Record Volume 143, Number 36 (Wednesday, March 19, 1997)]
[Senate]
[Pages S2550-S2551]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




         U.S. FOREIGN OIL CONSUMPTION FOR WEEK ENDING MARCH 14

  Mr. HELMS. Mr. President, the American Petroleum Institute reports 
that for the week ending March 14, the U.S. imported 7,849,000 barrels 
of oil each day, 704,000 barrels more than the 7,145,000 imported 
during the same week a year ago.
  Americans relied on foreign oil for 55 percent of their needs last 
week, and

[[Page S2551]]

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 U.S.--now 7,849,000 barrels a day.

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