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!
Related Content

Water, Eagles, and Wildfire
Jonathan WoodA podcast about the role of markets in conserving eagles and water, and how litigation stymies forest restoration work.

The Case for Tradeable Permits in Dead Birds
Tate WatkinsA push toward wind energy threatens to kill more eagles. Markets can help.

Using Markets to Limit Eagle Mortality from Wind Power
Molly Espey, Eamon EspeyHow a market in tradable permits can motivate the wind energy sector to conserve eagles

Regulatory Barriers to Geothermal Energy
Hannah DowneyAdvances in geothermal energy technology provide Montana the opportunity to enhance our energy sector while powering the nation.

Harnessing the Heat Beneath Our Feet
Eli DouradoHow lessons from the shale oil revolution could help us access geothermal energy—and provide clean power—virtually anywhere on the planet.

Biden’s Green Agenda Meets Environmental Red Tape
Shawn ReganA clean-energy future will require more than just spending money.