[Congressional Record Volume 144, Number 6 (Wednesday, February 4, 1998)]
[Senate]
[Page S376]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




       U.S. FOREIGN OIL CONSUMPTION FOR WEEK ENDING JANUARY 30TH

  Mr. HELMS. Mr. President, the American Petroleum Institute reports 
that for the week ending January 30, the U.S. imported 6,811,000 
barrels of oil each day, 329,000 barrels fewer than the 7,140,000 
imported each day during the same week a year ago.
  While this is one of the rare weeks when Americans imported slightly 
less oil than the same week a year ago, Americans still relied on 
foreign oil for 51.7 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 1970s, 
foreign oil accounted for only 35 percent of America's oil supply.
  Anybody 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 
6,811,000 barrels a day.

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