Jump to content

Judge who overturned Obama's offshore moratorium owns drilling stocks


nodle
 Share

Recommended Posts

"The federal judge who overturned Barack Obama's offshore drilling moratorium appears to own stock in numerous companies involved in the offshore oil industry—including Transocean, which leased the Deepwater Horizon drilling rig to BP prior to its April 20 explosion in the Gulf of Mexico—according to 2008 financial disclosure reports," According to Feldman's 2008 financial disclosure form, posted online by Judicial Watch [pdf], the judge owned stock in Transocean, as well as five other companies that are either directly or indirectly involved in the offshore drilling business.

 

It's not surprising that Feldman, who is a judge for the Eastern District of Louisiana, has invested in the offshore drilling business—an AP investigation found earlier this month that more than half the federal judges in the districts affected by the BP spill have financial ties to the oil and gas industry.

 

The report discloses that in 2008, Judge Feldman held less than $15,000 worth of stock in Transocean, as well as similar amounts—federal rules only require that judges report a range of values—in Hercules Offshore, ATP Oil and Gas, and Parker Drilling. All of those companies offer contract offshore drilling services and operate offshore rigs in the Gulf of Mexico. Judge Feldman also owned between $15,000 and $50,000 in notes offered by Ocean Energy, Inc., a company that offers "concept design and manufacturing design of submersible drilling rigs," according to its web site. None of the companies were direct parties to the lawsuit seeking to overturn the ban.

http://rawstory.com/rs/2010/0622/judge-holding-drilling-firm-stocks-overturns-drilling-moratorium/

 

 

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.