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View Full Version : Judge Who Overturned Drilling Moratorium Had Oil Investments; US Plans New Ban




bobbyw24
06-23-2010, 09:36 AM
A federal judge who blocked the Obama administration's effort to ban deepwater offshore drilling in the Gulf of Mexico yesterday has reported oil and gas investments on financial disclosure forms.

U.S. District Judge Martin Feldman of New Orleans filed 2008 disclosure forms showing investments in Transocean Ltd., the owner of BP’s failed oil rig, as well as Halliburton and several other energy companies, the Associated Press reports. Feldman did not respond to AP’s attempt to find out whether he still holds any of the investments.

Feldman blocked the six-month moratorium, saying the administration had failed to justify the need for it, according to the New York Times and the Wall Street Journal (sub. req.). “The blanket moratorium, with no parameters, seems to assume that because one rig failed and although no one yet fully knows why, all companies and rigs drilling new wells over 500 feet also universally present an imminent danger,” Feldman wrote in a 22-page opinion.

"Are all airplanes a danger because one was?" Feldman wrote. "All oil tankers like Exxon Valdez? All trains? All mines? That sort of thinking seems heavy-handed, and rather overbearing.''

The administration plans to appeal. Meanwhile, Interior Secretary Ken Salazar has released a statement saying he will issue a new order with information showing why it is needed, the Times says.

http://www.nytimes.com/aponline/2010/06/23/us/AP-US-Gulf-Oil-Spill.html?_r=1&scp=2&sq=judge+court&st=nyt

dannno
06-23-2010, 10:53 AM
Well there is some ammunition for the left.

devil21
06-23-2010, 02:28 PM
Everyone has oil investments. It's one of the largest financial markets in the world.

Romulus
06-23-2010, 03:04 PM
Everyone has oil investments. It's one of the largest financial markets in the world.

Yep, just some nonsense to rile up those that defy 'the order'.

awake
06-23-2010, 03:28 PM
Umm... if he had oil investments and is crooked like "they" imply, he should have left the ban in place. Restricting the supply of any commodity will increase its price and thus profit. He acted against his own interest in lifting the ban.

jkr
06-23-2010, 03:38 PM
PFFFFT!
anyone who bought a gasoline powered car is invested in oil, NEXT!

MelissaWV
06-23-2010, 03:48 PM
As others have said, most people have "oil investments." The way the article is written, it just says he had money in a company. Was that via a retirement plan? Mutual fund? Any number of other things?

If having "oil investments" makes one corrupt, what's that say for having oil investing in you? I'm looking at the White House on this one.