I was surprised and disappointed to see your feature article vilifying those of us associated with the oil industry. We at Petro Rubber Products Inc. are in the rubber business and mold products for the oilfield service industry. Therefore, we are aware of both sides of the price issue. My concern with your article and with others who are concerned about the price of oil is that there is a lack of balance in the debate.
The domestic oil industry has suffered since 1982. The price of oil really has not increased that much since the early ´70s. Certainly, nowhere near the inflation rate. Cheap oil is good for the economy in the short term. However, the price per barrel since the fall in 1986 has caused the number of oil wells to shrink and the loss of 500,000 jobs. We need to sustain a domestic oil industry to avoid becoming a hostage to foreign imports. This requires valuing this natural resource in ways that cause conservation and appreciation for those who provide the resource.
Articles like yours do great harm to an important industry. Did the price of chemicals or rubber go down when the price of oil was $7.79? Why not?
James E. Robertson, Petro Rubber Products Inc., Joshua, Texas