Teapot Dome scandal Teapot Dome was regarded as the "greatest and most sensational scandal in the history of American politics". It damaged the reputation of the Harding administration, which was already severely diminished by its controversial handling of the Great Railroad Strike of 1922 and Harding's veto of the Bonus Bill in 1922. In the early 20th century, the U.S. Navy largely converted from coal to fuel oil. To ensure that the Navy would always have enough fuel available, several oil-producing areas were designated as naval oil reserves by President Taft. In 1921, President Harding issued an executive order that transferred control of
Oil reserves in the United States from in 1970 to in 2007, before declining. Its largest net suppliers of petroleum products in 2007 were Canada and Mexico, which supplied , respectively. As of 2011, the US consumed 18.8 million barrels of petroleum products per day, and imported a net 8.4 million barrels per day; the EIA reported the United States "Dependence on Net Petroleum Imports" in 2011 as 45%. During 2008-2009 the USA became a net exporter of refined oil products; before the US bought gasoline, diesel and kerosene in Europe, and smaller amounts from other countries. The United States maintains a Strategic Petroleum Reserve at