Can you justify giving Oil companies a tax break?

The house today approved a tax increase bill for oil companies and incentives for renewable energy and conservation efforts. I think this is 100% fair as these companies make on average 40 Billion dollars in profits each year and do little investment in alternative energy sources or conservation.

However, some republicans called this "the pure venom ... against the oil and gas industry." Can you come up with an argument to justify giving these oil companies huge tax breaks?

Dear TaxMaven,

The oil companies were previously given many tax breaks by the current administration in past years. Why? They had high profit ratio, it wasn't like the tax breaks that were given to airline companies after 9/11 because they were consistently making a loss. The current bill seeks to reverse some of those wrongs done by the current administration.

Your response "If you want to reduce the need for oil...[other silly comments]" shows a total lack of (ability to?) comprehension of the spirit of the question.

Again I restate... can anyone justify giving an oil company a tax break. Especially considering that demand for their product is rising.

The oil and gas industry will invest where it makes economic sense. Just look at British Petroleum and its efforts. Investment in renewables will happen. Now, the part against the profits the oil companies make.... so what?!?! So often on Yahoo answers I see people commplain about companies making a profit. That is the American way. We are capitalists! I'm sure you don't work for the least amount of money you can make. Nothing wrong with profit.

Hey I think it's fair, Over $1,000 a second is a little bit to fast to be making money. There should almost be a cap on profits lol ( THIS IS A JOKE, NOT TO BE TAKEN SERIOUSLY )

The opposite of a "tax increase" is NOT a "tax break"! If Congress fails to raise my taxes this session, will I be getting a "break"? NO! I will just be getting screwed at the same level as last year. Besides, you are leaving out a whole bunch of details about this bill. This is mostly political posturing on both sides. No one is losing any sleep over it.

Btw, why are you so viciously opposed to companies making money by providing a product people buy? If you want to reduce the need for oil, stop buying: 10w30, gasoline, rubbermaid, trashbags, hoses, nylons, condoms, tires, etc. Get yourself a wooden wheeled cart & a donkey.