Wednesday, June 23, 2010
Martin Feldman, the Louisiana judge who reversed a prior ruling levelling a ban on deep-water drilling, has disclosed that a handful of his investments favored the oil and gas industry.
Feldman acknowledged owning $15,000.00 in oil-related stock (approximate) in 2008
After all, the bench-warmer's nest egg was in Transocean Ltd. - one of the companies involved in the Gulf of Mexico scandal - which sunk Deepwater's Drilling rig.
The Interior Department imposed the moratorium last month in the wake of the BP disaster - in addition to - halting approval on spanking-new permits for deepwater projects.
Feldman overturned the ban in New Orleans - yesterday - after citing grounds for the switcheroo.
"The government assumed that because one rig exploded, the others posed imminent danger, too."
On the heels of the Judge's ruling, the stock market shot up, but took a nose dive when the President's team announced the Government would appeal.
Interior Secretary Ken Salazar intends to issue a new moratorium, which he asserts, will cast out any doubts about the need for the ban.
Feldman originally hails from St. Louis.
The Jurist - who has a great sense of humor - is a former Army Captain.
Feldman's portfolio was bolstered by stock in Halliburton - an oil-industry giant - that was also tied in with the Deepwater Horizon Project.
Which begs the question?
Due to a conflict of (financial) interest should Judge Feldman have recused himself from presiding over the legal proceedings?
In May, Martin was appointed to a seven-year term on the "Foreign Intelligence Surveillance Court".
The court meets in clandestine fashion to consider government requests for wiretaps in national security cases such as those involving foreign terrorist groups.
Judge Feldman is an intriguing court official, eh?