Why do conservatives believe it's possible to be racist against white people, when they have power and privilege over people of color?

they watched too much crap on cable tv, like fox news, duck dynasty and appalachian outlaws

People of color with money have power and privilege over others. Haven't your heard that money talks and B/S walks?

Depends what you consider 'racism'. For some, as you suggest, it is involves a question of power. For others, it is just an attitude towards other people, (no involvement of power)

We do? Golly. I didn't know that. No one is setting up subsidies for me. No one was giving my business a set aside because I'm white. No one's giving me preference based on skin color. No one is giving me scholarships because I'm white. Where are all these privileges? Everything I've gotten in my life...and I'm almost 60...I got from hard work, initiative and responsible decision making. What am I missing?

They know that’s a bull**** line. Being racist without any ability to act upon it is nothing more than name calling and trash talking, basically. A racist black person cannot prevent someone from being hired or get them fired or prevent them from moving into a particular neighborhood, etc.

That is an intersectionality argument which has no basis in reality.

Asian Americans are minority in US currently. Let's say a white person applies for a programming job in a IT firm run by asians gets rejected solely because of his white race. Does that mean the asian employer is still not a racist because he is a minority ?

Besides, whites are not majority in all states. In large states like California, Texas, whites are already a small minority.

many white people study in schools and colleges where they are already a small minority. Saying whites can never face racism is stupid.

We don't care about you or August.

That might have been true 100-150 years ago, but plenty of people of color have power and privilege today.

Can you state some proof that White people have the power and privilege over people of color or are you just repeating what you have heard?

Power has nothing to do with it.