OT: Mineral rights and leases

It seems like there is a find or potential find up here in Michigan. Some people signed leases on the cheap, others for 1500 an acre. The State was one of those
parties. They got the large figure so there must be something going on.
Anyway, I was pretty happy years ago to have the rights revert to me when the lease expired on my property that I had purchased. One less encumbrance. I knew a guy that had property with lease agreement. Well, some exploration company decided his place was the place to drill at. On 360 acres, not a problem, but on 10 or so, they are in your back yard. I'd rather be left alone in my rather peaceful and quiet environment. I have 10 acres and I do not need the money. I could sell my pines for cash if I needed instant money. I've made about $13,000 off of them so far. The land I bought was free over the long term.
However, if they are sucking natural gas out from under me, well, hey, McMaster, MSC, Grizzly, and Enco needs my support checks. Anyone understand the law on having a non lease property where gas extraction is being performed near by?
Some guy that doesn't respect the 'Do Not Call' list banged on the door tonight, I sent him away with orders to stay away. Now if he had sent a letter by US Mail, I might have at least discussed the matter with him.
Wes
--

I was a skeptic before I became a cynic.

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On 6/25/2010 3:42 PM, Wes wrote:

(...)
Did you catch _Gasland_, a documentary about the nightmare of hydraulic fracturing?

http://www.youtube.com/watch?v=dZe1AeH0Qz8

Check out a guy lighting his water on fire: 2:24
Yeeesh!
--Winston
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I didn't mention my concern about ground water polution. I get my water from a private well.
Wes
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Wes, can you tell us more about the land you bought. I was kind of thinking about buying some land on the cheap, maybe one day to build a cabin or something.
i
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Nothing much to tell, I bought 10 acres of land back around 81 or so, that had red pine already planted on it. Trees kept growing. I've had them thinned a couple times so they can continue to grow. Each time I've been paid by those that harvested the wood.
I hope to have trees suitable for utility poles in the future.
Evidently a lot of farm land that wasn't in use was planted with red pine. I bought the property to have a place to live on, it had a single wide on it at the time.
Some info on red pine (Norway) plantations. http://web1.msue.msu.edu/imp/modft/26129701.html
Wes
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On Fri, 25 Jun 2010 18:42:18 -0400, Wes

======Obscure economic term for this is "vent for value." A traditional example is when all the valuable trees are cut down and disappear from areas populated by indigenous people, with the rationale that they don't appreciate how valuable the trees are [to some one else, generally with a gun].
The unfortunate fact of life is that there are always people around that will take [steal] anything that is not nailed down or red hot, particularly if the "owners" are not in a position to do anything about it. This is just "Kelo" applied to natural resources instead of desirable real estate. http://www.jud.ct.gov/external/supapp/Cases/AROcr/CR268/268cr152.pdf http://www.cnn.com/2005/LAW/06/24/scotus.property /
http://www.youtube.com/watch?v=4N1svadJQ40

http://www.youtube.com/watch?v=qSxru-qxuL4
http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/Pfizer-abandons-site-of-infamous-Kelo-eminent-domain-taking-69580497.html
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-- Unka George (George McDuffee)
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On Jun 25, 4:45pm, F. George McDuffee <gmcduf...@mcduffee- associates.us> wrote:

Out here in the West, Oregon, the railroads were given every-other- section of land adjoining their right of way. When they sold the land to pay for the railroad building, they retained the mineral rights. Many land owners have discovered miners ready to dig up their farm for the minerals under their pasture. My Aunt and Uncle had a farm on a mountainside SW of Portland. There was a beautiful white pure clay deposit under their red dirt. They could not dig it out and sell it because the railroad owned the mineral rights. Works both ways, I guess.
Paul
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