Wednesday, June 23, 2010

Judge Who Nixed Drilling Ban Had Oil Investments

Why didn't Judge Martin Feldman recuse himself? Apparently because he wanted to make this decision.

Judge Who Nixed Drilling Ban Had Oil Investments
Curt Anderson and Michael Kunzelman
June 23, 2010

The Louisiana judge who struck down the Obama administration's six-month ban on deepwater oil drilling in the Gulf of Mexico has reported extensive investments in the oil and gas industry, according to financial disclosure reports. He's also a new member of a secret national security court.

U.S. District Judge Martin Feldman, a 1983 appointee of President Ronald Reagan, reported owning less than $15,000 in stock in 2008 in Transocean Ltd., the company that owned the sunken Deepwater Horizon drilling rig.

Feldman overturned the ban Tuesday, saying the government simply assumed that because one rig exploded, the others pose an imminent danger, too...

Feldman's 2008 financial disclosure report - the most recent available - also showed investments in Ocean Energy, a Houston-based company, as well as Quicksilver Resources, Prospect Energy, Peabody Energy, Halliburton, Pengrowth Energy Trust, Atlas Energy Resources, Parker Drilling and others. Halliburton was also involved in the doomed Deepwater Horizon project.

Feldman did not respond to requests for comment and to clarify whether he still holds some or all of these investments.

He's one of many federal judges across the Gulf Coast region with money in oil and gas. Several have disqualified themselves from hearing spill-related lawsuits and others have sold their holdings so they can preside over some of the 200-plus cases...

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