While efforts to develop a U.S. energy policy have been stymied by endless wrangling within Congress and between the legislators and the White House, the nation's energy situation has deteriorated. Domestic production of oil has declined steadily during the past year, and a relaxation of public conservation measures and the nation's quickening economic pace have caused U.S. oil imports to return to pre-Arab embargo levels. Indeed, the U.S. has become more dependent than ever on
Arab oil; it now draws 26% of its petroleum imports from Arab supplies (v. 16% in late...
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