It is.
It’s a tax code written to order by politicians purchased by oil companies. Why did oil companies receive billions of dollars in subsidies last year? If they can’t survive without subsidies and tax breaks then let them go out of business. They will be replaced tomorrow by (hopefully) people who don’t depend on corporate welfare. Corporations should be taxed exactly as any working person and prohibited from contributing so much as a dime in cash or kind to any politician for any purpose.