You know Big OIl is Big Stupid for running these ads. Their best course of action would to ignore the whole deal. Their end result is that they are giving Gore's movie a free plug, by keeping it in the news.
It is sort of surprising they would say anything. My mom was a admin assistant for the lawyers at Exxon USA when Waterworld came out. They actually had a meeting to discuss what action should be taken since the movie had the Exxon Valdez in it. The producers of the movie showed Exxon but not Exxon with the dropped X, which is copyrighted. The consensus at the meeting was the best course of action was no action. Just laugh it off and take the high ground if asked about it. They had decided that nobody was going to take Exxon's side in a copyright issue so short after the Valdez accident.