ExxonMobil receives no special treatment in the U.S. tax code.
What the president often calls subsidies for “Big Oil” are legitimate tax provisions that apply to virtually all American manufacturers and producers. In fact, companies like ExxonMobil actually are specifically disadvantaged: The oil and gas industry deduction under section 199 of the tax code, for instance, is lower than the deduction allowed for nearly all other U.S. manufacturers.