[Congressional Record Volume 144, Number 30 (Wednesday, March 18, 1998)]
[Senate]
[Page S2211]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




        U.S. FOREIGN OIL CONSUMPTION FOR WEEK ENDING MARCH 13TH

  Mr. HELMS. Madam President, the American Petroleum Institute's report 
for the week ending March 13, that the U.S. imported 6,636,000 barrels 
of oil each day, 1,213,000 fewer barrels than the 7,849,000 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 a year ago, Americans nonetheless relied on foreign oil 
for 50.8 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.
  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 
6,636,000 barrels a day.

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