Preoccupied with the great debate over steel, Washington hardly seemed to notice another ugly eruption last week. For the first time in history, the U.S. oil industry was hit by a nationwide strike. Some 90,000 of the industry's 268,000 workers walked out at refineries, distribution plants and pipelines of yo-odd companies, from New Jersey to Texas, cutting production by an estimated 35%.
The official issue was wages. The workers, already among the highest-paid in the U.S. (an average rate of $2.03 an hour), had demanded a flat 25¢ increase, plus higher premiums for night work. The best company offer to date: 18¢....
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