President Obama Proposed Repealing Tax Subsidies For Oil And Gas Companies Worth Nearly $40 Billion Over Ten Years. On February 13, Bloomberg reported:
President Barack Obama, who pledged an "all of the above" energy strategy that included fossil fuels, renewed his proposal to cut more than $40 billion in tax breaks for oil, gas and coal producers in the next decade to spend more for conservation and alternate energy.[...]The plan calls for a $4.75 billion cut in tax credits for oil companies in 2013, including repeal of $3.49 billion in so- called intangible drilling costs, for a savings of $38.6 billion by 2022. [Bloomberg, 2/13/12]
PBS get about $458 million dollars per year.