After nine episodes of evidence, this one adds up the ledger. It gives the strongest case for the 1872 law first: secure claims attract capital, ore cannot move, and the energy transition needs these minerals. Then it sets out the costs: no royalty, unfunded cleanup, water treated forever, and a treaty record the Supreme Court called dishonorable. The verdict is to modernize, not abolish.
Whether a royalty would drive mining abroad is argued by industry and reformers, and no definitive study settles it. Cleanup totals and the number of abandoned mines range widely, and whether federal equity stakes can replace royalties is open.