“U.S. District Judge Martin Feldman, a 1983 appointee of President Ronald Reagan, reported owning less than $15,000 in stock in 2008 in Transocean Ltd., the company that owned the sunken Deepwater Horizon drilling rig.” “Feldman’s 2008 financial disclosure report – the most recent available – also showed investments in Ocean Energy, a Houston-based company, as well as Quicksilver Resources, Prospect Energy, Peabody Energy, Halliburton, Pengrowth Energy Trust, Atlas Energy Resources, Parker Drilling and others. Halliburton was also involved in the doomed Deepwater Horizon project.” “He’s one of many federal judges across the Gulf Coast region who have had money in oil and gas. Several have disqualified themselves from hearing spill-related lawsuits and others have sold their holdings so they can preside over some of the 200-plus cases.” “Feldman did not respond to requests for comment and to clarify whether he still holds some or all of these investments.” (Anderson, Curt; Kunzelman, Michael, 6/23/2010, Associated Press, Judge who nixed drill ban reported oil investments,Retrieved from news@yahoo.com). One has to wonder why this judge has not answered or proven to either disqualify himself from hearing cases which may show some bias. One should not begrudge the judge from owning any stocks that he wishes but as with congress if you are going to vote on a bill involving a supporter, ethics should dictate that you disqualify your self.
“Feldman overturned the ban Tuesday, saying the government simply assumed that because one rig exploded, the others pose an imminent danger, too.” “Although Feldman ruled in favor of oil interests Tuesday, one expert said his reasoning appeared sound because the six-month ban was overly broad.” “Feldman essentially said in his ruling, writing that the blanket moratorium “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.” “He 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.” (Anderson, Curt; Kunzelman, Michael, 6/23/2010, Associated Press, Judge who nixed drill ban reported oil investments,Retrieved from news@yahoo.com). If I may, I would like to answer some of the questions raised here by Judge Feldman. He inquires that because one rig exploded, if the others pose the same imminent danger, I say yes. Just as car manufactures recall all cars made when problems arise, as should go all other industries, it is more than rational to assume that these parts are questioned especially if they are manufactured by the very same people.
“The lawsuit was filed by Hornbeck Offshore Services of Covington, La. CEO Todd Hornbeck said after the ruling that he is looking forward to getting back to work. “It’s the right thing for not only the industry but the country,” he said. ” “Several companies that ferry people and supplies and provide other services to offshore rigs argued that the moratorium was arbitrarily imposed after the April 20 explosion that killed 11 workers and blew out a well 5,000 feet underwater. It has spewed anywhere from 67 million to 127 million gallons of oil.” “Earlier in the day, executives at a major oil conference in London warned that the moratorium would cripple world energy supplies. Steven Newman, president and CEO of Transocean, called it unnecessary and an overreaction.” (Anderson, Curt; Kunzelman, Michael, 6/23/2010, Associated Press, Judge who nixed drill ban reported oil investments,Retrieved from news@yahoo.com). This segment should bear out to all that a life seems less important than crippling the world energy supply according to those quoted above. Is this not a good enough reason to invest and switch to clean energy so that we do not ever have to weigh human life versus world energy supplies?
