At what USD prices do energy property rights create such dislocation, instability and inequality in America that they are de facto seized by the State into the public domain?Prior lease and mineral rights null & void?? Prior owners and leaseholders perhaps permitted to continue stewardship and extraction under contract? Fixed rates of return to extraction based upon costs, granted and periodically reviewed as with state utility boards? I can envisage some of the fiercest political battles ahead that will cross the lines of philosophy, economics, politics, potentially shredding historical precedents of constitutional law, in attempts to equitably resolve what will be deepening energy and economic crises. Thoughts?
Friday, June 27, 2008
An Open Question
I have a simple question for everyone today: