Judge who nixed drilling ban has oil investments

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Associated Press

Posted on June 23, 2010 at 9:02 AM

Updated Wednesday, Jun 23 at 9:06 AM

NEW ORLEANS—Financial disclosure reports show the Louisiana judge who struck down the Obama administration’s six-month ban on deepwater oil drilling in the Gulf of Mexico has reported extensive investments in the oil and gas industry.

He’s also a new member of a secret national security court.

U.S. District Judge Martin Feldman is a 1983 appointee of

President Ronald Reagan. He reported owning less than $15,000 in stock in 2008 in Transocean Ltd.—the company that owned the sunken Deepwater Horizon drilling rig.

Feldman overturned the ban yesterday—saying the government assumed that because one rig exploded, the others pose an imminent danger, too.

The White House promised an immediate appeal.

The Interior Department had imposed the moratorium in the wake

of the BP disaster.

 

 

 

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