Best I've heard of is the occasional tax break (reduction). Production taxes, lease sales, federal/state royalties, 'windfall profits' taxes, transportation taxes, fuel taxes, permit fees, reclamation bonds, etc., etc., etc.
The industry is one of the few taxed on par with tobacco, but it is taxed from prospect to the gas tank.
SO what are the subsidies?
Ethanol? NOT oil.
My neighbor is a chemist for Amoco. He says that ethenol is not the holy grail as a gasoline substitue. The process required to get ethanol to market consumes energy... fossil fuel.
As for subsidies, the oil companies are paying taxes on their untapped oil reserves!
I get fed up with some liberals I know who spout off with unfounded statements.
My wife worked for Texaco for 30 years in their World headquarters in NY.
She said what the feds are, and have been doing to the oil companies, is unconcienable.
Oil companies are hog-tied from building new refining capacity.
She goes ballistic when I mention the "Federal Government" and "energy" in the same sentence.