This comment on Beldar blog explains Alaska’s oil and gas tax in more detail. It is not a windfall-profits tax, strictly speaking. It is a severance tax, which is a tax that many resource-rich states impose on oil and gas production. (I wrote about Colorado’s severance-tax issues for NRO last week.) Alaska’s tax is, according to the Seattle Times, “a graduated tax pegged to increased oil prices.” The rate goes up as oil prices go up.

I accept the criticism some of you have offered that I should have looked into the matter more closely before pulling the trigger on that post. Shame on me. In my defense, I can only submit that I was trying to cover another story at the same time.

But for those who wrote in accusing me of repeating a Democrat talking point, check the link I provided. It goes to a post by Ed Morrissey, a conservative writer. Excessive taxation of oil and gas production is something to which conservatives rightly pay close attention.