Renowned for its historic wilderness, the American West is today emblematic of amenity migrations and rural gentrification. Indeed, the attractions of the environment now assume a position of importance in these social-territorial changes, playing a key role in transforming the Old West into a New West, such that it could be considered a new seam or a seam at the heart of the new strategic investments that come into play. Given the central importance of the environment in these developments, this article employs the concept of “environmental capital” to shed light on these social and territorial transformations, and to interpret the balance of power as well as the disparities that characterize the New West.