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Posted Wed Oct 9 2013: from
Reuters:
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Special Report: U.S. builders hoard mineral rights under new homes http://apocadocs.com/s.pl?1381349902
...In golf clubs, gated communities and other housing developments across the United States, tens of thousands of families ... have in recent years moved into new homes where their developers or homebuilders, with little or no prior disclosure, kept all the underlying mineral rights for themselves, a Reuters review of county property records in 25 states shows. In dozens of cases, the buyers were in the dark.
The phenomenon is rooted in recent advances in extracting oil and gas from shale formations deep in the earth, fueling the biggest energy boom in modern U.S. history. Horizontal drilling and the controversial practice of hydraulic fracturing, or "fracking," have opened vast swaths of the continental United States to exploration.
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[Read more stories about:
capitalist greed, fracking]
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