Based on the text, it can be said that...

America today imports more than three times as much the amount of oil it used to by the mid seventies.

currently, the U.S. imports two-thirds of its consumption everyday.

the Bush administration officially determined a slower exploitation of America's own oil reserves.

ethanol from corn will reduce external dependence of the U.S. on foreign oil during the decades to come.

the priorities of the nation may be mixed up with the priorities of the domestic oil industry.