VOL. XXXII

NO. 8

28-NOVEMBER-1988

GENERAL

API Warns of New Oil Crisis

The US currently imports 43% of the oil it consumes, up 31% from just threeyears ago, and approaching the 1977 record level of 48%, according to a newAmerican Petroleum Institute (API) study released recently at the annual APImeeting. The study, entitled Energy Security White Paper: US Decisions andGlobal Trends, states that "the truth is that the state of the nation'senergy health today is perceived as `good' only because...