Let's compromise.  We can eliminate all oil company subsidies, if we also eliminate all subsidies to green energy and the education system, and not allow unions to lobby.

While we're at it, let's eliminate the loopholes that cost the federal government the most money:

1.  The standard deduction and personal exemptions.
2.  Tax free treatment of welfare payments and benefits.
3.  Tax free treatment of the employer-paid portion of health insurance premiums.

If you look up the list of top corporate welfare recipients, as I recall, 7 or 8 of the top ten are unionized.  Boeing is far and away the leader, and they're making billions a year.

BTW, the federal government is making more money on oil than the oil companies are.  Same goes for tobacco.