Three Cheers for Fracking

Friday, March 21, 2014

PERC Fellow and Donald Bren Professor of Corporate Environmental Management and Economics at the Bren School of Environmental Science and Management and Economics Department at the University of California, Santa Barbara, Gary Libecap talks with John Batchelor on the history of mineral rights in the United States. An historic shift occurred in 1848 with the discovery of gold in California. Mineral rights, once owned by the federal government, went to individuals allowing them their own claims to the deposits. This is unique to the Western United States - that individuals ended up with private rights to minerals below the surface. Today, on Federal lands, however, there are potential deoposits of oil and natural gas that could be released with new technologies, but the problem is there is little security in the property rights to those lands, so it is likely these lands will not produce to their full potential. Listen to learn more!

Media Source: 
The John Batchelor Show
 Growing up in Livingston, Montana, Gary Libecap was deeply influenced by the landscape surrounding his small town. In time, his professional interests focused on topics interwoven into the fabric of western society. He explores problems based on shared resources through the framework of property rights. Libecap studies the way outside factors...
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