Edward L. Doheny prices were high. The Mexican Petroleum Company was the largest in Mexico, and Mexico was the largest oil producer in the world. In 1922 Albert B. Fall, U.S. Secretary of the Interior, leased the oil field at Elk Hills, California, to the Pan American Petroleum & Transport Company. Around the same time, the Teapot Dome Field in Wyoming was leased to Sinclair Consolidated Oil Corporation. Both oilfields were part of the US Navy's petroleum reserves. Neither lease was subject to competitive bidding. In 1924 rumors about corruption in the deals escalated into the Teapot Dome scandal. Doheny's reputation was somewhat
Harken Energy scandal Harken Energy scandal The Harken Energy scandal refers to a series of transactions entered into during 1990 involving Harken Energy. These transactions are alleged to involve either issues relating to insider trading, or influence peddling. No wrongdoings were found by any investigating authorities although the matter generated political controversy. George W. Bush ran an energy company called Spectrum 7 during the 1980s. In the mid-1980s the oil market was in a slump, with prices dropping daily. The firm was in serious financial trouble until another company, a distressed oil properties specialist, Harken Energy, purchased Spectrum 7 in 1986. Part of