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Judge has ties to oil industry and owns stock in major companies involved in the spill

The disaster in the Gulf of Mexico is still on going with the leaking well pouring thousands and thousands of barrels of crude oil into the waters daily. So far, BP has been unable to stop the flow of crude from leaking into the waters.

The Obama administration had placed a six-month ban on deep-water drilling in the gulf until an investigation could be conducted to determine what caused the explosion on the Deepwater Horizon platform that triggered the massive Gulf oil spill.

A federal judge lifted the ban placed on deep-water drilling in the Gulf yesterday. The judge who lifted with ban is U.S. District Court Judge Martin Feldman. Feldman issued a 22-page order that would allow oil companies to resume to drilling in the Gulf. However, the White House says that it will file an immediate appeal and Interior Secretary Ken Salazar says that it will issue a new order imposing a moratorium on drilling that gives more detail on why the 6-month ban is needed.

Feldman said in his order that there was not enough justification in the drilling ban to justify the action taken by Obama and the White House. Feldman wrote, "A 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 also wrote, "If some drilling-equipment parts are flawed, is it rational to say all are? Are all airplanes a danger because one was? All oil tankers like Exxon Valdez? All trains? All mines? That sort of thinking seems heavy-handed, and rather overbearing."

Associated Press has noted that Feldman has ties to the oil industry and as recently as 2008, he owned stock in several oil companies. AP reports that Feldman listed in 2008 that he owned less than $15,000 in stock in Transocean Ltd. Transocean is the company that owns the Deepwater Horizon platform.

While some suggest that Feldman is biased because of his ties to the oil industry, at least one expert sees no signs of bias in the ruling. Tim Howards, a law professor at Northeastern University said, "There's been some concern that he is biased toward the industry, but I don't see it in this opinion. They [the White House] overreacted and just shut an industry down, rather than focusing on where the problems are."

However, Josh Reichert, managing director of Pew Environment Group said, "If Judge Feldman has any investments in oil and gas operators in the Gulf, it represents a flagrant conflict of interest."

Even though the ruling by Feldman would allow drilling to restart in the gulf, some major oil companies are holding off knowing an appeal is coming soon. Shell and Marathon are waiting to see what happens with the appeal before getting back to drilling.

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RE: Seriously... Who comes up with this crap?
By bill4 on 6/23/2010 11:29:49 AM , Rating: 3
Yeah and I wonder if the media reports every time some judge sides with the EPA, what "green" companies stock he owns that stand to benefit. Of course they dont, I've certainly never seen such a thing, have you?

I've seen some reporting on the stocks Gore owns that will benefit from cap and trade, but only from Fox News and the few other moderate media outlets, never the ultra left wing mainstream media such as CNN, ABC, Time, MSNBC, CBS, US News, NY Times, LA Times, Newsweek, etc etc etc etc.

Nice "free" media we have, free meaning owned by communists.

By BriteLite on 6/23/2010 11:52:38 AM , Rating: 2
Clearly I struck an ill-cord with my rating on the parent here but good grief folks wake the hell up.

Obviously we live in a media biased world, we see it right here on our tech site.
"Judge has ties to oil industry and owns stock in major companies involved in the spill"

Yea... sure.

I get your point, gosh you couldn't me more dead-on with the comments about Gore. No one even cares or listens. Granted you also don't hear that the O' administration giving a credit to Brazil of what like $10 Billion? And this was a shuffle pot, as the end-user is PetroBras... also interesting... is if we shut down drilling, can we guess where the drillers will go? I'll give everyone one guess. (Starts with a Bra... ends with Zil)
Get it? Oh and should I even mention Soros? I mean really? Would anyone go look for the truth between PetroBras, Soros and ding our Child in chief?

Now we hear that we have Thousands of skimmers throughout the East Coast, that could have helped contain a huge % of the spill, but that would take the union dollars out of the gulf so that's a no no. Federal government kept those skimmers away. The Feds have now restricted LA's work in building the barrier islands... What? The handling of this whole thing has been beyond horrible, it's tragic. We have a child in the office of president who has yet to take real Action on anything, oh sure... lots of hopey and changey but nothing done. (Well 40 rounds of golf) This child lives in a fairly tale land of milk and endless honey where wishes come true and lollipops consumed.

I'm coming to a realization that at this point bring back Bush because damn... even he is better than this child of little thought in office.

Damn doesn't reality suck?

This administration knew about this over a MONTH before the disaster and did... NOTHING.
So... all you lefties out there that are a little hot and bothered now, explain away. How in the world can your boy king be held responsible... I mean... this is clearly Bush's fault.

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