11._Age_of_Gasoline_Revised_S08

11._Age_of_Gasoline_Revised_S08 - 11.TheAgeofGasoline

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11. The Age of Gasoline More Players
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Major Themes The roaring 1920s, rising tide of gasoline  Real concern about supplies Additional discoveries once again  contributed to a surplus Oil is different from other commodities More discussion of government regulation
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Big Bad Oil Again: Teapot Dome Senator Albert B. Fall from NM selected by  Warren Harding as Secretary of Interior Took control of naval oil reserves/fields and placed  them in the Interior Dept. Leased Teapot Dome (WY) to Harry Sinclair,  guaranteeing him a market in the US gov’t Leased Elk Hill (CA) to Edward Doheny Sinclair had channeled several hundred  thousand dollars to Fall thru a bogus company In 1931, Fall sent to jail, and Sinclair was sent  to prison 6½ months later; Doheny was judged  innocent. 
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Teapot Dome Scandal Perpetuated The  Negative Image of Big Oil 
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Rule of Capture
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This note was uploaded on 04/19/2011 for the course EGEE 120 taught by Professor Considine,timothy during the Spring '07 term at Penn State.

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11._Age_of_Gasoline_Revised_S08 - 11.TheAgeofGasoline

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