Ever since Standard Oil in J. P. Morgan's day, there has been a great deal of money to be made in selling oil. The demand for oil is unrelenting, by all available indicators. Oil companies are continually innovating to extract more oil from a wider variety of locations. With all of these market conditions in place, it seems obvious that the government is not needed to subsidize or support oil companies. They are doing well on their own.
I don't believe that the U.S. government should subsidize big oil companies because these companies have some of the largest profit margins in the world. The only potential subsidy for oil companies that I would be in be in favor of, would be for programs designed to create sources of alternative energy.
There is no need to subsidize big oil companies. Oil companies consistently make money, thus do not need government money. The United States should be a free market economy and if big businesses need excess funds, they should reexamine how they are running their business. I don't think anything should be subsidized, but definitely not businesses making a profit.
No, the US government has no business subsidizing large industries like this, especially ones that are as profitable as the oil industry. They post record profits quarter after quarter, so why should the government help them out at all? Big business has no trouble getting money; why not help out people who really need it, instead?