Saturday, September 6, 2008

Chit-Chat Over Coffee Swirls (23)

Topic: The Teapot Dome Scandal 1920s

With all the talk going on back and forth between the Presidential candidates regarding energy, oil, gas prices spiraling, it brings to mind the Teapot Dome Scandal in 1922, where a government official was involved in corruption.

The Teapot Dome scandal occurred in the early 1920s, during the administration of President Harding. The name referred to the Teapot Dome Reserve, a 9,321 acre oilfield on public land near Casper, Wyoming, which was set aside in 1915 as an oil reserve for the U.S. Navy. President Warren C. Harding, at the insistence of his Secretary of the Interior Alfred B. Fall, signed an executive order transferring the naval petroleum reserves from the Navy to Fall's Department of the Interior. In 1922 Secretary of the Interior Albert Bacon Fall secretly leased the two oil reserves to private oil companies; Harry Sinclair's Mammoth Oil Company and the 38,000-acre Elk Hills Reserve in California, to Edward Doheny's Pan-American Petroleum Company. As a result of the Senate Committee's investigation under Senator Thomas J. Walsh in 1923, Fall was convicted on federal bribery charges, having received about $400,000 for manipulating the leases. He was sentenced to one year in prison and assessed a $100,000 fine. (16)

Sources Utilized to Document A Little Taste Of History

To Contact: or

No comments: