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Americans' views of oil, gas industry improve due to low gas prices

Xinhua, August 25, 2015 Adjust font size:

Americans' views of the oil and gas industry have improved thanks to the low gasoline prices, while the sector remains one of the unpopular sectors in the United States.

Thirty-four percent of Americans said they have a positive view of the oil and gas industry in 2015, up 12 percentage points since 2012, said a Gallup survey released on Monday.

Ratings have improved as the average price of gasoline in August has declined more than 1 U.S. dollar per gallon since 2012, said the survey.

The survey found historically there is a statistically strong, albeit imperfect, inverse relationship between gas prices and Americans' views of the oil and gas industry. Positive perceptions of the oil and gas industry fell to an all-time low of 15 percent in 2008, when gasoline prices averaged 4.09 dollars per gallon.

However, the recent improvement in Americans' views of the oil and gas industry doesn't change the total negative impression of this sector.

The oil and gas industry's net rating in 2015 is -13, based on 34 percent positive ratings and 47 percent negative ratings, and oil and gas remains the second-lowest business or industry sector tested, said the survey.

The oil and gas industry has also been one of the poorest-rated in Gallup's list for over ten years, said the survey. Endit