Who owns natural resources ?

Discussion in 'Environment' started by dilloduck, Jul 19, 2008.

  1. dilloduck
    Offline

    dilloduck Diamond Member

    Joined:
    May 8, 2004
    Messages:
    53,240
    Thanks Received:
    5,552
    Trophy Points:
    1,850
    Location:
    Austin, TX
    Ratings:
    +6,403
    We have "natural" resources in America. Who owns them ? Who should profit from their sale ? Who should decide if it's legal to even sell them ?
    If Lower Slobbovia has an urgent need for widgets, can I just run all over America picking up widgets and export them ? Do I need the land owners permission to pick them up or the governments permission to export them?
     
  2. Wow
    Offline

    Wow BANNED

    Joined:
    Jul 10, 2008
    Messages:
    562
    Thanks Received:
    6
    Trophy Points:
    0
    Location:
    Texas
    Ratings:
    +6
    I live in Slobbovia! lol

    The American people own the Govt, hence the American people own everything on and beneath the soil.
     
  3. coolgeee
    Offline

    coolgeee Member

    Joined:
    Jul 21, 2008
    Messages:
    102
    Thanks Received:
    6
    Trophy Points:
    6
    Location:
    NYC Area
    Ratings:
    +6
    When you speak of naural resources, and Americans owning them, what do you speak of?

    Most Americans do not own significant property, or natural resources.
     
  4. Wow
    Offline

    Wow BANNED

    Joined:
    Jul 10, 2008
    Messages:
    562
    Thanks Received:
    6
    Trophy Points:
    0
    Location:
    Texas
    Ratings:
    +6
    Most Americans outside of NYC own land and minerals.

    NYC is too expensive for the poor and middle-class to live nice unless you are servicing Elliot Spitzer. :lol:
     
  5. Care4all
    Offline

    Care4all Warrior Princess Supporting Member

    Joined:
    Mar 24, 2007
    Messages:
    32,738
    Thanks Received:
    6,617
    Trophy Points:
    1,170
    Location:
    Maine
    Ratings:
    +11,077
    whoever owns the mineral rights individually or the citizens of the usa, if gvt owned land
     
  6. Charles_Main
    Offline

    Charles_Main AR15 Owner

    Joined:
    Jun 23, 2008
    Messages:
    16,692
    Thanks Received:
    2,238
    Trophy Points:
    88
    Location:
    Michigan, USA
    Ratings:
    +2,251
    I have been secretly buying up all our resources, IN about 400 more years I will own them all. Then you will all bow before Main!!!

    :lol:
     
  7. p kirkes
    Offline

    p kirkes VIP Member

    Joined:
    Feb 26, 2006
    Messages:
    265
    Thanks Received:
    42
    Trophy Points:
    66
    Location:
    NW Louisiana
    Ratings:
    +53
    Coincidentally, a large gas field discovery here in north west Louisiana and east Texas has residents clamoring to be aboard the financial bonanza train in the form of mineral right's leases and royalities.

    Many landowners are reaping financial windfalls while some are greatly disappointed although both sit on top of the same Hainesville Shale gas field.

    As citizens are finding out, the issue is governed by individual state law.

    In Louisiana, no one "owns" the minerals (gas/oil) under the surface but property owners have the right to exploit these minerals themselves or lease that right to bring gas/oil to the surface where ownership is attached to the entity holding the lease and/or property.

    Leases are bought for ten years although the lease will remain in effect longer if production is continuing. If there is no production of minerals or no drilling then the lease reverts back to the property owner after ten years.

    A property owner can sell the land but retain the mineral rights for ten years or more if production is ongoing.

    The developing companies are signing up property owners, so are speculators and the prices are not uniform. The buyers count on property owners not knowing the law and the economics of the situation thus getting the lease for a low cost. For example, the first leases were acquired at $250 per acre now the leases are selling for several thousand per acre. FWIW.

    Cheers,
     

Share This Page

Search tags for this page

natural resources and who owns them in usa