Pity the Poor, Misunderstood Oil Industry [1]
Submitted by Diane Farsetta [2] on
As gas prices rise and oil companies enjoy record profits, the industry is increasing its PR efforts. The American Petroleum Institute [3] (API) hired The Hawthorn Group [4] and Edelman [5]'s advertising practice, spending "more than $20 million over the last few months." Talking points [6] developed by API and others include: "forces of demand have outstripped supply," especially with China's economic growth; "oil industry profits are not outsize by the standards of other major industries"; and "Western oil companies have only a limited share of the crude oil market." The industry has retained "familiar Washington figures like the former Reagan official, Michael K. Deaver [7], and former Senator J. Bennett Johnston of Louisiana," to gain Congressional support. PR Week reports [8] that ExxonMobil [9] is "discussing its Energy Outlook presentation ... with policymakers, citizen groups, and the media." Shell Oil [10] is promoting its "Fuel Stretch Principles," which "help people improve their fuel economy," and its credit card, "which offers a 5% rebate on gas purchases."