NEW YORK (Reuters) - The oil industry plans to keep up its U.S. public relations offensive in coming months as it tries to soothe consumer outrage over soaring gasoline prices and record oil company profits, the industry's chief lobby group said on Monday.
The large oil companies have already given several millions to the American Petroleum Institute to help the lobby group spread the industry's message to American consumers, API President Red Cavaney said at the Reuters Global Energy Summit in New York.
Executives of top oil companies themselves are making it a priority to explain the long-time horizons and large capital investments needed in the energy business, he said.
"They're taking time out to talk to the public, it's a change in mindset," Cavaney said.
Hit by a fierce consumer backlash over gasoline prices topping $3 a gallon while Big Oil rakes in record profits running into several billions, the industry has shunned its normal reticence when dealing with the media and consumers. In recent weeks, the CEOs of Exxon Mobil Corp. and Chevron Corp. even appeared on popular morning news shows.
The energy industry began stepping up its public relations effort following last year's hurricanes, when it came under fire for a sharp spike in gasoline prices and was dogged by accusations of price gouging, Cavaney said.
The industry had instead expected praise for its ability to deal with the crippling hurricanes with no loss of life and minimal disruptions to gasoline supply, he said.
"We thought we would have gotten some accolades," Cavaney said. "Instead it was the opposite, we got blasted."
With U.S. lawmakers calling for special taxes on oil company profits and the repeal of tax breaks they already enjoy, the industry fears pressure from consumers will lead to punishing new regulations from Washington.
"Everyone knows the price of gasoline but no one knows what goes into it," said API Chief Economist John Felmy. "It's a fundamental information lack that we have, and that's exploitable by politicians."
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