CHANGING FEDERAL PRIORITIES MIDSTREAM IN UPSTREAM DEVELOPMENT: FEDERAL ENERGY DEVELOPMENT LEASE CANCELLATIONS, ENVIRONMENTAL POLICY, HISTORIC PRESERVATION AND TAKINGS

摘要

This Article specifically examines whether a federal oil and gas lease cancellation is a Fifth Amendment taking, for which a party must be justly compensated. The consequences of the Secretary of the Interior's recent cancellation of the Solenex lease will be historic if upheld. The financial viability of federal oil and gas leases as assets would be signiGcantiy diminished, if not entirely shattered. In addition to the Takings Clause analysis, the article will demonstrate the uncertainty and lack of continuity created when energy, environmental, historical and cultural interests compete in federal oil and gas development The finality and consistency lacking in the administrative system would make even the most courageous wildcatter or tribal leader hesitant about the rules of the game and how to anticipate their application.