Judge who overturned drilling moratorium holds stock in drilling companies [View All]

[Judi Lynn]

Source: Yahoo News

Judge who overturned drilling moratorium holds stock in drilling companies
2 mins ago

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.

U.S. District Judge Martin Feldman issued a preliminary injunction today barring the enforcement of Barack Obama's proposed six-month moratorium on deepwater drilling, arguing that the ban is too broad.

According to Feldman's 2008 financial disclosure form, posted online by Judicial Watch , 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.


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