>If a lease has value to me remaining undeveloped, and it has value to them being developed, then shouldn't we be able to compete to see how much the market val

>If a lease has value to me remaining undeveloped, and it has value to them being developed, then shouldn't we be able to compete to see how much the market values those priorities? No, because the actual amount the lessee is paying is the $19/acre, plus the taxes on the oil they extract. The fact that the $19 is a separate transaction is just an accounting convenience. The state could say "place bids of price per acre plus taxes. Highest bidder wins. We'll refund taxes up to the amount you paid in the bid." It would be inconvenient for multiple reasons, but it would average to the same thing, and it would stop the conservationists cold. The fact that the state doesn't do it that way and so the conservationists can pay the price per acre by itself is just a loophole.