wlkleo00jah
Lord Cienia
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Wysłany: Wto 8:27, 20 Sie 2013 Temat postu: www.achbanker.com/home.php The Teapot Dome Scandal |
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The Teapot Dome oil field received its name because of a rockresembling a teapot that was located above [link widoczny dla zalogowanych] the [link widoczny dla zalogowanych] oil-bearing land.
In [link widoczny dla zalogowanych] 1921 Albert Fall was appointed as Secretary of the [link widoczny dla zalogowanych] Interiorby President Warren Harding.
In June, 1920, Congress [link widoczny dla zalogowanych] passed a bill that stated that theSecretary of the Navy would have the power "to conserve,develop, use and operate the same in his discretion, directly orby contract, lease, or otherwise, and to use, store, exchange,or sell the oil [link widoczny dla zalogowanych] and gas products thereof, and those from allroyalty oil from lands in the naval reserves, for the benefit ofthe United States."
Three naval oil fields, Elk [link widoczny dla zalogowanych] Hills and Buena Vista Hills inCalifornia and Teapot Dome in Wyoming, was public land that werereserved by [link widoczny dla zalogowanych] previous presidents to be emergency underground oilsupplies to be used by the navy only when the regular oilsupplies diminished.
It soon became known that Albert fall was spending large sums ofmoney. In fact fall had received "gifts" from , Harry F.Sinclair (Mammoth Oil Corporation) [link widoczny dla zalogowanych] and Edward [link widoczny dla zalogowanych] of his friends, Harry F. Sinclair (Mammoth OilCorporation) and Edward L. Doheny (Pan-American Petroleum andTransport Company), were allowed to lease part of these NavalReserves, including Teapot Dome.
Following were a number of civil and criminal suits related tothe Teapot Dome scandal.
Fall then convinced Secretary of the Navy Edwin Denby to turnthe control of [link widoczny dla zalogowanych] the oil fields [link widoczny dla zalogowanych] over to him.
In 1927 the Supreme Court ruled that the oil leases had beencorruptly obtained and invalidated the Elk Hills lease inFebruary of that year and the Teapot lease in October of thesame year.
Albert Fall was found guilty of bribery in 1929, fined $100,000and sentenced to one year in prison.
Hearings on the Teapot [link widoczny dla zalogowanych] Dome oil lease began on October, 1923.
The Teapot Dome Scandal was one of the earliest scandals [link widoczny dla zalogowanych] in theAmerican business.
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