Owners and operators of marginal oil and gas wells in this country feel they are being dealt a double blow. While state regulatory bodies boast they are plugging abandoned and marginal wells at record rates to eliminate potential environmental problems, critics in the industry contend the spate of plugging is erasing an important national resource.
And just as this criticism was aired, the owners of such marginal wells were hit by what could be an even more telling blow -- this time the failure of OPEC late last month to cut production levels, which has sent oil prices plummeting.
The two circumstances combined could severely damage the domestic petroleum industry, say industry sources.
During the past few …