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It's a lease: "The lease has a term of ten years, and, after the gavel comes down, the annual rental fee per acre would be a dollar and a half for the first fiv
by jeffdavis 6y ago
It's a lease: "The lease has a term of ten years, and, after the gavel comes down, the annual rental fee per acre would be a dollar and a half for the first five years, and two dollars for the second."
- hanniabu 6y agoThat's so ridiculously insanely cheap....is the land really that worthless?
- rurban 6y agoWell, it's one of the most famous places in the world, with tons of tourists every year. But when you start destroying this, it's worthless for sure.
- jeffdavis 6y agoCan you elaborate? What does the map look like, where do the tourists go, and what part of it will be defiled with oil & gas development? You might be right. But based on the information in the article, it might also be true that tourists don't ever notice that any of this happened.
- Miner49er 6y agoThis only gives mineral rights on a 10 year lease. The government then gets 12.5% of whatever minerals are taken.
- bryanlarsen 6y agoOver $1000 per square mile per year is a lot of money if there aren't any minerals worth exploiting on that square mile.
- jeffdavis 6y agoWell, there will be a lease auction, so you can feel free to bid $2.50 per acre per year. But basically, almost nobody is willing to even go to this land even if they did own it. Even environmental charities would probably set their sights elsewhere: jungles and waterways are almost certainly more environmentally significant.
- jacobwilliamroy 6y agoIt's worth whatever the market will pay. You can totally be "that guy" who drops 10 mil on a 2 dollar acre of land. You'd probably get in the local paper.