This document discusses political science and law theories related to regulating natural resource extraction, specifically fracking. It analyzes the "race to the top" theory from political science and the "compact theory" and "federal common law" from law. Based on these theories, the document concludes that the best approach is minimal federal regulation with priority given to state control, to balance environmental protections with state profit and energy demands. It recommends further research on how to regulate fracking without significantly impacting economics or energy needs and analyzing other natural resource case studies.