Abstract
Abstract In 1921, petroleum executives E. L. Doheny and Henry Sinclair allegedly bribed Secretary of the Interior Albert Fall to obtain oil production leases for the Naval Oil Reserves at Elk Hills, California, and Teapot Dome, Wyoming. This “Teapot Dome” scandal, as it came to be called, is the most frequently cited example of the corruption of the Harding administration, and its legacy remains for many one of the darkest chapters of U.S. public lands policy. There is, however, another, possibly more important legacy of Teapot Dome. Surprisingly, Teapot Dome may have more to say about the success of future U.S. oil policy than it does for evaluating the ethics of government officials. After all, Teapot Dome was about oil, and the reasons it was so controversial, aside from the subsequent issue of bribery, tell us something about how we manage or, rather, mis-manage our precious domestic oil reserves today.
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