The Earth contains 50,000 times more heat energy within the top 10,000 meters of the surface than contained in all of the world’s oil and natural gas resources combined. Yet, geothermal energy accounts for a mere 0.4% of the total electricity generated in the United States. Ambiguity in property rights related to geothermal energy is one of the challenges constraining expansion of this energy sector in the U.S. While landowners have clear ownership rights to oil, gas, water, and other tangible natural resources in their subsoil, the same cannot be said for subsurface thermal energy in many U.S. states. This presentation will explore the legal and practical challenges to owning an incorporeal, uncontainable, natural resource that is better defined as a characteristic of underground formations rather than as a physical or tangible thing. It will also proffer two ownership models that balance the need to incentivize investment in geothermal energy, with the sustainable development of this promising clean energy resource.
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Naturressurslunsjen er ope for alle interesserte.
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