Yes, folks, there's one real estate market where buyers line up to bid. And we're not talking 50-cents on the dollar foreclosure homes in southern Nevada or western Michigan. We're talking land with a serious prospect for a long-term revenue stream, perhaps a gusher of cash. The federal government is in the midst of perhaps the biggest land rush since they opened Oklahoma to the Sooners. Please forgive the website linked to, they can't spell "Chukchi."
Some of this land is in Alaska, even above the Arctic Circle. But nobody intends to live there, just get the oil. Earlier I blogged about the leases offered for land beneath the Chukchi Sea. Uncle Sam says, "Gotcher oil land right here, come and get it."
But now a lawsuit's been filed to block the leases. Now the Inuit and polar bears are on the same side, and they've got lawyers.