Is George M. Keller, the chairman of Chevron, hitting on all eight or is his dipstick dry? Can he be serious in asking (Times, Nov. 12) that the U.S. government establish a price floor for the oil industry? Is he allowed to go out without supervision?
The chairman of Chevron and president of the American Petroleum Institute must have amnesia about the 1970s when the oil industry was educating the American public with lessons in economics about supply and demand.
America's problem, according to the oil barons, was that our demand was far exceeding the oil supply, and Americans should become accustomed to paying ever-higher prices for operating their automobiles and heating their homes.
Americans were admonished to purchase more fuel-efficient cars; curtail their driving; form car pools; refrain from using Christmas lights; turn down their thermostats; wear sweaters.