Having no basis for an interpretation of law, I must rely on others much more well educated and experienced in the study of law. Following is information from Lewis & Clark Law School, Portland, Oregon. Naturally Oregon legal scholars have been studying this topic since the Bundy bunch invaded their state ... and before.
Information from Lewis & Clark Law School, Portland, Oregon:
Since 1830, in a long line of cases the court (US Supreme Court) has consistently ruled that the property clause is "without limitations," meaning the courts will accept congressional decisions concerning the management of public lands. In short, there is no constitutional basis for attacking federal ownership of public lands.
..the Court hardly ever completely reverses prior precedent, and the Court’s interpretations of the Property Clause have been consistent for 175 years. There’s virtually no chance that the Court would choose to overturn this long line of binding authority.
Since 1840, the Court has consistently ruled that the Property Clause (Article IV, section 3, clause 2) gives the government expansive authority to hold and manage public lands. In the 1840 case, U.S. v. Gratiot, the Court decided that the federal government didn’t have to give its lands away; it could instead just lease the minerals, retaining its land ownership. Fifty years later, in 1890, in Camfield v. U.S., the Court upheld federal authority to regulate actions on nonfederal lands that affected adjacent federal lands. In that case, the Court enjoined a private landowner from maintaining a fence on his private lands that in effect enclosed public lands. The Court
stated that the federal government had the authority to decide whether to sell public lands or withhold them from sale as public interest dictated.
Some twenty years later, in 1911, in Light v. U.S., the Court refused to allow a Colorado rancher to graze his cattle on federal public land without a federal permit, even though his grazing was consistent with state law, because the federal government was a “trustee” of the public’s lands. Six years after that, in the 1917 decision of Utah Power and Light v. U.S., the Court applied similar reasoning in deciding that a power company had no right to build a dam on federal lands without federal permission. Nearly a half-century later, in its 1976 decision of Kleppe v. New Mexico, the Court rejected the state’s claim that it could assert superior title to wild horses protected under the federal Wild Horses Act, upholding federal authority to control the taking of wildlife on (and, indeed, off) federal lands as well as control grazing on the federal lands themselves.
In all of these decisions—and several others—the Supreme Court described federal control of public lands and associated resources as “without limitations” and rejected state claims to authorize private action inconsistent with federal rules. In short, plenary federal authority under the Property Clause is about as settled a principle of constitutional law as exists.