> What if the highest bid that you receive today is not as high as what you would receive in 10 years? What if it is lower? And if the government has some spe

> What if the highest bid that you receive today is not as high as what you would receive in 10 years? What if it is lower? And if the government has some special knowledge as to what oil prices will be in the future, it should instead buy a bunch of oil and openly trade on the market. I simply do not believe that the government has this special knowledge or is significantly better than the market. If you want to reduce risk, you could instead sell the land over time. IE, sell x% of the land every year, over the next 10 years. The risk that prices will go down is just as a big of a problem as the risk that prices will go up. I see no reason why one should choose status quo bias in favor of keeping unused land that might go up or might go down.