Letter to editor: Star Tribune: May 2, 2006

I'm sick and tired of the blaming and whining for "excess profit" taxes on the oil industry. Where else in the economy do we penalize people for selling a product at market prices? Maybe we should apply "excess profit" taxes to home sales? Maybe we should outlaw "home-flippers" who artificially raise property prices? There is no objective "fair price" for a one-time energy resource of fossil fuels. Replacement costs are more important than extraction costs. If I had an oil reserve, I'd be holding onto my investment and watch it rise in value. Wouldn't you?