Big Oil keeps 5 tax breaks in vote 29 Mar 2012 The Senate on Thursday decided against advancing a measure to repeal five tax incentives for the nation's biggest oil and gas companies and use the money to extend alternative energy and energy-efficiency tax credits. The measure failed, as had been expected, just after President Barack Obama implored senators to slash incentives that he argued subsidize major companies that don't need them. The measure by Sen. Robert Menendez, D-N.J., would have barred BP, Chevron Corp., ConocoPhillips, Exxon Mobil Corp. and Shell Oil from claiming several incentives.