A tax deduction given to oil companies means that they might get to keep more of their own money than they otherwise would have been able to do. A tax deduction is only valuable to a company that is making a profit. If they aren't profitable, they don't owe any taxes, and a tax deduction is completely meaningless. In any event, we are talking about money earned by the actions of this company and its employees.
In contrast, Obama showered his cronies with money earned by other people. Solyndra never made a dime, but Obama gave its owners (who were, let's remember, big donors to his election funds) a gift paid for by the rest of us.
These "Investments", as Obama loves to call them, are by their very nature a drain on our economy - they take money from profitable enterprises and people earning a living (i.e. taxpayers), and give it to objects of Obama's benevolence ... who just happen to be well-connected and wealthy Democratic donors. If these "investments" were really investments in the true meaning of the word, then their owners - especially given their wealth and connections - would have no problems attracting financing just like the rest of us!
However, they are and were boondoggles that only someone inept, clueless, and/or corrupt would ever consider putting money into.
I think Obama hit the trifecta.