A method and system are shown for protecting the threaded ends of tubular goods such as oil field tubulars from physical damage and corrosion due to environmental factors. A thread protector is formed of a polymeric body having cylindrical wall portions which engage the threaded ends of the tubular goods. Instead of relying upon a separate thread compound or corrosion inhibitor applied to the exposed threads, the polymeric body has incorporated therein a corrosion inhibiting compound, which is blended within the polymeric body as a part of the manufacturing process used to mold the polymeric body. The thread protector of the present disclosure includes a weather barrier to minimize exposure of the threaded ends of the tubular goods to moisture and other contaminants. The weather barrier includes a weather barrier ring and an air vent.