Gas companies, with the help of the FERC and eminent domain, have orchestrated the biggest land grab in history. The EIA publishes that gas companies have 8265 bcf of underground natural gas storage space.
Consider the 8265 bcf as a single large balloon filled with natural gas and then calculate the surface area of the balloon. If my calculations are right, gas companies are using the equivalent of 2.8% of the land area of the earth for underground natural gas storage, ALL FOR FREE! with little no compensation to private landowners who are the rightful owners of the underground caverns used by gas companies.
A major problem with underground natural gas storage is the absence of fair compensation to landowners for underground natural gas storage on private property. The federal government, FERC, state governments, and courts have conspired with gas and pipeline companies to illegally take over private property by imminent domain and illegal perpetual leases for underground storage. Gas and pipeline companies make $Millions$ annually with ZERO or minimal compensation to private landowners. Courts have illegally used the wrong paradigm, diminution of surface land value, to determine compensation. The correct paradigm is the value of these scarce underground caverns to gas and pipeline companies.
There are only 415 of these scarce underground resources in the entire USA, as such, these are extremely valuable resources OWNED BY PRIVATE LANDOWNERS. This violation of the 5th amendment rights of private landowners and Native Americans needs to be reversed NOW!!
Gas and pipeline companies must be forced to retroactively fairly compensate landowners for underground natural gas storage. Gas and pipeline corporations are sharecroppers that aren't sharing. For more information see my linkedin group "Fair Compensation for Underground Natural Gas Storage."
