Windfall profit tax on oil companies?

Forget windfall taxes

Warren Buffett, an open advocate for Barrack Obama, was on CNBC this morning, where he called windfall profit taxes on oil companies a very bad idea. Democrats and Barrack Obama have been big supporters of a windfall profit tax on oil companies, but Buffett thinks its a bad idea. So, I'm assuming all the talk coming out of the Democratic Party is just rhetoric. Read more about Warren Buffett talks oil.

Anyway, rate the idea of a windfall profit tax on oil companies. Is it scapegoating, or a good idea?