Judge Faces Death Threats After BP Gulf Oil Drilling Moratorium RulingMuch of the sensational reporting on Feldman’s investments was based on outdated information. The Judge was blasted for owning stock in Transocean, Ltd and Halliburton, two of the major companies involved in the Deepwater Horizon disaster. Feldman owned those stocks in 2008; however, he sold those shares long before issuing his ruling this week. In fact, this updated information will be released in the next report on his stock holdings.
If Feldman held financial interests in any of companies involved in the lawsuit or the Deepwater Horizon rig, he would not have been allowed the take the case. The 5th District Court uses a sophisticated computer system to check whether judges have a conflict of interest in any legal proceeding. This system automatically determines whether a judge needs to be recused from a particular case. In this lawsuit, Feldman was allowed to take the case because he did not own any stock related to the parties involved.
Wow! Just Wow! Dan, I knew that on some things I disagreed with you but I could never put my finger on it. This posting, and indeed your posting in this thread highlights it rather well.
I never took you for a "screw America" kind of guy, I will rethink that now.
Look, you are so concerned about perceived conflicts of interest, then address this one for us will you?
WASHINGTON – The panel appointed by President Barack Obama to investigate the Gulf of Mexico oil spill is short on technical expertise but long on talking publicly about "America's addiction to oil." One member has blogged about it regularly.
Only one of the seven commissioners, the dean of Harvard's engineering and applied sciences school, has a prominent engineering background — but it's in optics and physics. Another is an environmental scientist with expertise in coastal areas and the after-effects of oil spills. Both are praised by other scientists.
The five other commissioners are experts in policy and management.
The White House said the commission will focus on the government's "too cozy" relationship with the oil industry. A presidential spokesman said panel members will "consult the best minds and subject matter experts" as they do their work.
The commission has yet to meet, yet some panel members had made their views known.
Environmental activist Frances Beinecke on May 27 blogged: "We can blame BP for the disaster and we should. We can blame lack of adequate government oversight for the disaster and we should. But in the end, we also must place the blame where it originated: America's addiction to oil." And on June 3, May 27, May 22, May 18, May 4, she called for bans on drilling offshore and the Arctic.
"Even as questions persist, there is one thing I know for certain: the Gulf oil spill isn't just an accident. It's the result of a failed energy policy," Beinecke wrote on May 20.
Obama spill panel big on policy, not engineering - Yahoo! News
Hmmm, so lets see, your panties are in a wad over some holdings a Judge had two years ago, meanwhile the President is assembling people hostile to the oil industry as a matter of course today, and no outrage from you on that front....Telling my left wing friend.
Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.
Alexis de Tocqueville
"He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
Boston = City of Champions: Bruins 2011; Celtics 2008; Red Sox 2004, 2007; Patriots 2002, 2004, 2005
Jon Huntsman for President
Judge lifts offshore drilling ban as `overbearing' - Yahoo! News
The White House promised an immediate appeal. The Interior Department had imposed the moratorium last month in the wake of the BP disaster, halting approval of any new permits for deepwater projects and suspending drilling on 33 exploratory wells.
See my last post
However, as I posted earlier in this thread, the economic impact is still quite large. I will post again below:
From the Louisiana Mid-Continent Oil and Gas Association:
Suspension of operations means roughly 33 floating drilling rigs – typically leased for hundreds of thousands of dollars per day – will be idled for six months or longer.
$250,000 to $500,000 per day, per rig – results in roughly $8,250,000 to $16,500,000 per day in costs for idle rigs;
Secondary impacts include:
• Supply boats – 2 boats per rig with day rates of $15,000/day per boat - $30,000/day for 33 rigs – nearly $1 million/day
• Impacts to other supplies and related support services (i.e., welders, divers, caterers, transportation, etc.)
Each drilling platform averages 90 to 140 employees at any one time (2 shifts per day), and 180 to 280 for 2 2-week shifts
Each E&P job supports 4 other positions
Therefore, 800 to 1400 jobs per idle rig platform are at risk
Wages for those jobs average $1,804/weekly; potential for lost wages is huge, over $5 to $10 million for 1 month – per platform.
Wages lost could be over $165 to $330 million/month for all 33 platforms
Secondary impacts: Many offshore workers live in Louisiana. The state is going to see a decrease in income taxes and sales taxes that would normally be paid by those employees. (The state does not collect a sales tax on oilfield supplies and equipment used offshore.)
Last edited by NolaMan; 07-09-10 at 11:50 AM.