[Congressional Record Volume 144, Number 47 (Friday, April 24, 1998)]
[Senate]
[Page S3584]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




        U.S. FOREIGN OIL CONSUMPTION FOR WEEK ENDING APRIL 17TH

  Mr. HELMS. Mr. President, the American Petroleum Institute's report 
for the week ending April 17, that the U.S. imported 9,503,000 barrels 
of oil each day, 1,519,000 more barrels than the 6,424,000 imported 
each day during the same week a year ago.
  Americans relief on foreign oil for 59.6 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 
9,503,000 barrels a day.

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