On another forum, I read that peanut butter, as a buffing agent (not the chunky kind) works wonders on carbon fiber.
I'd find someone with a buffer and who knows how to use it. Depending on how bad it is determines how aggressive of compound you start with. Actually, I say you hit it with 800 wet, then clear it. It will last a hell of a lot longer than raw epoxy.
The cf hood is (should be) clear coated. Assuming the oxidation is on the surface, you can treat it the same as paint... so like piddster said, polish it starting with the least abrasive compound possible. I'd use a random orbital polisher with a soft pad and soft compound... like Sonus sfx-3 or Klasse all-in-one... In theory, it would be a good idea to use gel-coat specific products for polishing (like marine products) including a heavy-duty wax for protection in the future. got pics?
I can help you do this if you need it. Curly2k3 can also. I have to do this to my CF hood to im just to lazy to do it right now
