[Congressional Record Volume 143, Number 110 (Wednesday, July 30, 1997)]
[Senate]
[Pages S8356-S8357]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




          U.S. FOREIGN OIL CONSUMPTION FOR WEEK ENDING JULY 25

  Mr. HELMS. Mr. President, the American Petroleum Institute reports 
that for the week ending July 25, the U.S. imported 8,138,000 barrels 
of oil each day, 585,000 barrels more than the 7,553,000 imported each 
day during the same week 1 year ago.
  Americans relied on foreign oil for 56.3 percent of their needs last 
week, and there are no signs that the upward

[[Page S8357]]

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 
8,138,000 barrels a day.

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