The point is the industry has been heavily subsidized since the beginning. The US has been leading the way in reducing fossil fuel subsidies but only because they are directing that money toward renewables. At one time we were one of the highest subsidized countries in the world to artificially lower oil prices. As infrastructure and drilling tech improved the need has become less and less.
"A 2011 study by the consulting firm Management Information Services, Inc. (MISI)[32] estimated the total historical federal subsidies for various energy sources over the years 1950–2010. The study found that oil, natural gas, and coal received $369 billion, $121 billion, and $104 billion (2010 dollars), respectively, or 70% of total energy subsidies over that period. Oil, natural gas, and coal benefited most from percentage depletion allowances and other tax-based subsidies, but oil also benefited heavily from regulatory subsidies such as exemptions from price controls and higher-than-average rates of return allowed on oil pipelines."
https://en.m.wikipedia.org/wiki/Energy_subsidies
Yes I realize big oil (and small oil, IE percentage depletion allowances) gets alot of tax breaks but to say there is NO subsidizing is incorrect.
And more on my fracking comment
The increase in shale oil and gas production in the United States follows many years of investment and research carried out by the federal government. Between 1978 and 1992, DOE invested about $137 million in the Eastern Gas Shale Program, which helped demonstrate and commercialize many of the technologies in use today.
http://energy.gov/fe/science-innovation/oil-gas-research/shale-gas-rd
If you read the article there are several mentions of money invested, projects funded, etc. These were not tax breaks. They were handouts. 137 million dollars was was a sizable investment for the time and is no different than what is being handed over to fund both renewable and "green" energies. Same game, just different players.