Judge Who Ruled against Oil Drilling Moratorium Owns Oil Industry Stock

Thursday, June 24, 2010
Judge Martin Feldman

In throwing out the Obama administration’s moratorium on offshore oil drilling, U.S. District Judge Martin Feldman of Louisiana said halting production would negatively impact the industry and local economy. The ban also might have impacted Feldman’s own pocket book, based on the recent history of his investment portfolio.

Like many judges in the gulf region, Feldman has held stock in energy and drilling businesses. Disclosure forms for 2008, the most recent that are available, showed that the Reagan appointee owned shares in Transocean, owner of the Deepwater Horizon platform, and Halliburton, which performed construction on the rig before it blew up and sunk.
Other companies Feldman invested in include Ocean Energy, Hercules Offshore, Provident Energy, Peabody Energy, PenGrowth Energy, Atlas Energy Resources, Parker Drilling, EV Energy Partners, Chesapeake Energy and ATP Oil & Gas.
-Noel Brinkerhoff
Drilling Ban Blocked; U.S. Will Issue New Order (by Charlie Savage, New York Times)
Hornbeck Offshore Services v. Ken Salazar (U.S. District Court, Eastern Louisiana) (pdf)


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