Slide 2 of 30

• The share of total U.S. consumption of imported oil declined significantly in the late 1970's and early 1980's. High oil prices prompted consumers to conserve energy and to switch to other fuels.
• U. S. dependence on imported oil has increased to record levels during the last 25 years. Net imports provide 48 percent of U.S. oil consumption -- (net imports: imports minus exports).
• The share of total U.S. consumption of imported oil has grown since oil prices collapsed in 1986. Gross imports account for 53 percent of U.S oil consumption (gross imports: no offsets for oil exports).

Source: Energy Information Administration, Annual Energy Review 1997, DOE/EIA- 0384(97). (Washington, DC, July 1998), Table 5.1.