[adanthar]

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I provided a simple explanation for how state ownership and private ownership is largely indistinguishable, with the exception that state owners have no incentive beyond the political to preserve the capital value of the resource.

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Even if you take the first part of your premise as a given, political incentive seems like a much stronger rationale to - for example - preserve Yellowstone National Park than any given private individual's motivation to do the same.

The fact that there's even still a debate about drilling in the ANWR seems to suggest that that incentive is incredibly strong. (In that particular example, it might even be too strong. Your point, however, has consistently been that it practically doesn't exist, not that it's overwhelming.)