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Judge Martin Feldman's Financial Portfolio, Annotated

4 years ago
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There's a conflict of interest in the air.

U.S. District Judge Martin Feldman, who overturned the Obama administration's six-month offshore drilling moratorium on deep sea oil drilling yesterday, has investments in several companies related to the oil industry, according to Yahoo! News' John Cook.

Feldman's portfolio includes investments in the following companies:

1. Transocean Ltd. The offshore drilling contractor which owned the Deepwater Horizon rig.

2. Ocean Energy. Provides services and equipment like gas flares and floating, production, storage and offloading (FPSO) ship maintenance, to the offshore oil and gas industry.

3. Quicksilver Resources. A gas and oil exploration and production company based in Fort Worth, Texas.

4. Halliburton. The world's second largest oilfield services provider, which former Vice President Dick Cheney once ran, provided the failed cement casings on the Deepwater Horizon rig.

5. Pengrowth Energy Trust. An oil and gas drilling company operating in Canada, with the motto "value creation through the drill bit."

6. Atlas Energy Resources. Producer of natural gas with more than 9,000 wells and mineral rights to more than one million acres in Pennsylvania, West Virginia, Ohio, New York, Tennessee, Michigan, and Indiana.

7. Parker Drilling. Provides drilling services to the energy industry and owns 28 onshore rigs in nine countries and 17 offshore rigs, including some in the Gulf of Mexico.
Filed Under: Oil Spill, Surge Desk

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6 Comments

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knute9

Simple conflict of interest with the judge on this case, though it's par for the course, same old corrupt insider government politics. He should be nothing short of disbarred.

June 26 2010 at 8:12 PM Report abuse rate up rate down Reply
joe

I have a bit of advice for the critics of this judge who decry his investments in oil stock. You should first of all determine and prove that Judge Feldman's decision was WRONG and not within the laws of the land. To say that the decision was biased in favor of the oil industry is ridiculous. The decision was against the moratorium order as written in belief that it did not justify itself based on the reasons stated for it's issue.

June 24 2010 at 9:02 AM Report abuse rate up rate down Reply
Kyle

I hope I never run into this judge, don't come to Florida

June 23 2010 at 11:47 PM Report abuse -1 rate up rate down Reply
rrobin6128

evoyageur, you and others need to get real. These are the facts! This judge had $15,000 invested in varius oil stocks, in his investment poprtfolio. This was a very small percentage of his investments as reported on the news. Now, if this hold on drilling goes on, these rigs will start leaving the golf and head to Brazil, where George Soros sp?, owns 900 million in these oil companies. This same person invested millions in the Obama campaign directly and indirectly through advertising. Now I ask you, who has the biggest conflict here and the most to gain? OBAMA does!

June 23 2010 at 8:26 PM Report abuse +1 rate up rate down Reply
scottalbert2

The judge may have money in funds that invest in oil companies. He's allowed. If he has a fund that wants to make money it had better be invested in energy stocks as part of its offering - it's been one of the most profitable sectors as of late. I see no need to recuse himself over that. He may take medication for something - doesn't mean a lack of impartiality if ruling in a pharmaceutical case. To be held to that standard would require every judge hearing every case to call his broker to see if he could be allowed to rule. These guys st this level are smart enough to make the right call......and this one did.

June 23 2010 at 4:19 PM Report abuse +1 rate up rate down Reply
Jeff

So what. Most people have these stocks and a lot more companies in
401 K's. That is a real reach to believe he based his decision on his
portfolio.

June 23 2010 at 4:16 PM Report abuse -1 rate up rate down Reply
adamaro1

If you own a mutual fund you probably own one or more of these companys. This seems pretty typical. Instead of debating the pros and cons of the moritoriam, the judge is attacked and demonized. We should put additional safety measures in place, as has been suggested and allow thousand of people the opportunity to go back to work.

June 23 2010 at 2:42 PM Report abuse +5 rate up rate down Reply
1 reply to adamaro1's comment
davidrdogbow

Well said. I would contend though that the safety measures in place are fine, they just need to be met, not circumvented like BP did through MMS's negligence.

But hey it's all BP's fault, the incompetent government just needs to grow more and then they can take five minutes to read through a sundry notice. Sigh.

June 23 2010 at 5:19 PM Report abuse +1 rate up rate down Reply
davidrdogbow

Everyone is invested in oil and gas - check your retirement funds and your money markets.

The allusion this article makes takes away from the pertinent facts of why Obama's unconstitutional moratorium was overturned. WOuld be great to have someting on that as opposed to demonizing speculation.

June 23 2010 at 11:13 AM Report abuse +7 rate up rate down Reply

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