One evening this past October, I went prospecting for natural-gas man Trevor Rees-Jones at the posh Hilton Anatole in Dallas. He was there to receive the Robert S. Folsom Leadership Award, a philanthropic prize that in recent years has gone to the likes of Laura Bush and former Cowboys quarterback Troy Aikman. Unlike these prominent Texans, Rees-Jones is not widely known outside his hometown. If the name sounds familiar, it’s probably because he shares it with the British bodyguard who survived Princess Diana’s fatal car crash. The Trevor Rees-Jones that I came to see is the billionaire founder of Dallas-based Chief Oil & Gas and perhaps the fastest-rising star in Republican big-money circles.

The dinner’s PR people had promised me tickets, then changed their minds and, with apologies, yanked them. So I called up my sister, a Dallas debutante of recent vintage, to help me crash the thing. As we strolled through the Hilton’s cave-like lobby in cocktail attire, we saw a troop of young Boy Scouts milling about. One of them inquired about our destination and then helpfully directed us to the event’s open bar. An Eagle Scout himself, Rees-Jones has donated millions of dollars to scouting causes.

A few days […]