[Congressional Record Volume 144, Number 11 (Thursday, February 12, 1998)]
[Senate]
[Page S725]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




       U.S. FOREIGN OIL CONSUMPTION FOR WEEK ENDING FEBRUARY 6TH

  Mr. HELMS. Mr. President, the American Petroleum Institute reports 
that for the week ending February 6, the U.S. imported 8,371,000 
barrels of oil each day, 447,000 barrels more than the 7,894,000 
imported each day during the same week a year ago.
  Americans relied on foreign oil for 56.8 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 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 
8,371,000 barrels a day.
  Mr. COVERDELL. I suggest the absence of a quorum.
  The PRESIDING OFFICER. The clerk will call the roll.
  The bill clerk proceeded to call the roll.
  Mr. COVERDELL. Mr. President, I ask unanimous consent that the order 
for the quorum call be rescinded.
  The PRESIDING OFFICER. Without objection, it is so ordered.

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