Revenue is simply what you earn regardless of your costs. If some kind of business generates lots of revenues but has costs that are similar, then...they are screwed. You are basically proposing taxing money that moves through any company, regardless of the amount of money that has to pass out of it. Many companies just couldn't afford to exist anymore, we'd go back to hunting and gathering because even farming would no longer be economically viable.

Oil companies have huge capital costs to find and extract resources, if you look at what their profits are compared to their costs of doing business, then obviously taxing revenue isn't going to work.