This bar graph from Mike's America says it all and brings us a much-needed reality check.
The various politicians demonizing oil companies are, at best, misinformed. In fact, as recently noted by LD Jackson of Political Realities, oil companies do not so much receive subsidies as they do tax breaks, which are available to other companies besides oil companies:
...What they are calling subsidies are nothing of the kind. Contrary to the rhetoric being used in this debate, the federal government is not writing a check to Exon, Shell, or any other oil company. What is happening is the tax breaks the oil companies receive through the convoluted maze of rules and regulations that is the American tax code.Read the rest of LD Jackson's "The Myth Of Big Oil Subsidies" HERE.
Let’s be very clear about what is happening in the debate over oil company subsidies. As I have already noted, they are not actually subsidies, but tax breaks that all companies are allowed to take, to a certain degree....
Naturally, most Americans are bemoaning the rising prices at the pumps. Furthermore, come winter, those of us in the Northeast who heat our homes and businesses with oil will be struggling to pay our heating bills. Demonizing the oil companies is a fallacy that the American people should not succumb to, however.