Hero Activist Throws a Monkey Wrench in Big Oil's Land Auction
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This activist Tim DeChristopher, who bidded up parcels of land sought by oil and gas interests for drilling is really a hero. I guess the Bureau of Land Management was all upset because an auction broke out at their nice little auction.
The process was thrown into chaos, and the bidding halted for a time before the auction was closed, with 116 parcels totaling 148,598 acres having sold for $7.2 million, plus fees.
"He's tainted the entire auction," said Kent Hoffman, deputy state director for the U.S. Bureau of Land Management in Utah.
Hoffman said buyers will have 10 days to reconsider and withdraw their bids if they think they paid too much.
Huh? Paid too much? If a buyer is paying millions of dollars for oil-rich land, they obviously think it's worth it. What DeChristopher did was prove that the BLM was giving away federal land, basically owned by the taxpayers, to noncompetitive interests at obscenely low rates, and that the bidders would clearly pay more if forced. I thought these capitalists believed in the free market?