Government sells scandalized Teapot Dome oilfield for $45M

January 30, 2015 10:46 PM

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A private company finally will be able to drill legally for oil at Teapot Dome, a remote Wyoming oilfield that remains best known for a political scandal that embroiled the administration of President Warren G. Harding in the early 1920s.

The Energy Department announced Friday that it had finalized the sale of the 9,481-acre Teapot Dome oilfield to New York-based Stranded Oil Resources Corporation for $45.2 million. Stranded Oil was the highest of nine bidders last fall.

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