Page 1 of 5 123 ... LastLast
Results 1 to 10 of 48

Thread: Judge who overturned drilling moratorium reported owning stock in drilling companies

  1. #1
    Doesn't go below juicy
    tacomancer's Avatar
    Join Date
    Jan 2010
    Location
    Cleveland
    Last Seen
    05-20-16 @ 02:42 PM
    Gender
    Lean
    Other
    Posts
    31,781

    Judge who overturned drilling moratorium reported owning stock in drilling companies

    Judge who overturned drilling moratorium reported owning stock in drilling companies - Yahoo! News

    The federal judge who overturned Barack Obama's offshore drilling moratorium reported owning stock in numerous companies involved in the offshore oil industry including Transocean, which leased the Deepwater Horizon drilling rig to BP prior to its April 20 explosion in the Gulf of Mexico according to 2008 financial disclosure reports.
    U.S. District Judge Martin Feldman issued a preliminary injunction today barring the enforcement of the president's proposed six-month moratorium on deepwater drilling, arguing that the ban is too broad.
    According to Feldman's 2008 financial disclosure form, posted online by Judicial Watch [pdf], the judge owned stock in Transocean, as well as five other companies that are either directly or indirectly involved in the offshore drilling business.
    It's not surprising that Feldman, who is a judge for the Eastern District of Louisiana, has invested in the offshore drilling business an Associated Press investigation found earlier this month that more than half the federal judges in the districts affected by the BP spill have financial ties to the oil and gas industry.
    The report discloses that in 2008, Judge Feldman held less than $15,000 worth of stock in Transocean, as well as similar amounts (federal rules only require that judges report a range of values ) in Hercules Offshore, ATP Oil and Gas, and Parker Drilling. All of those companies offer contract offshore drilling services and operate offshore rigs in the Gulf of Mexico. Judge Feldman also owned between $15,000 and $50,000 in notes offered by Ocean Energy, Inc., a company that offers "concept design and manufacturing design of submersible drilling rigs," according to its website. None of the companies were direct parties to the lawsuit seeking to overturn the ban.
    Judge Feldman did not immediately return a message seeking comment.
    I am not a legal expert, but at what point must a judge recuse himself? Ultimately, while I do agree with the judgment made, I am a bit nervous about the objectivity that can be maintained by any judge who has a possible personal reason to make a ruling.

  2. #2
    Dungeon Master
    Somewhere in Babylon
    Jetboogieman's Avatar
    Join Date
    Jan 2010
    Location
    Somewhere in Babylon...
    Last Seen
    @
    Lean
    Undisclosed
    Posts
    24,272
    Blog Entries
    1

    Re: Judge who overturned drilling moratorium reported owning stock in drilling compan

    Well, Well, Well... ain't that some ****...

    Associated Press investigation found earlier this month that more than half the federal judges in the districts affected by the BP spill have financial ties to the oil and gas industry.
    I really wonder how this is going to play out.

  3. #3
    Sage
    VanceMack's Avatar
    Join Date
    Feb 2010
    Last Seen
    Yesterday @ 11:14 PM
    Gender
    Lean
    Independent
    Posts
    54,600

    Re: Judge who overturned drilling moratorium reported owning stock in drilling compan

    Quote Originally Posted by megaprogman View Post
    Judge who overturned drilling moratorium reported owning stock in drilling companies - Yahoo! News



    I am not a legal expert, but at what point must a judge recuse himself? Ultimately, while I do agree with the judgment made, I am a bit nervous about the objectivity that can be maintained by any judge who has a possible personal reason to make a ruling.
    So in any case...any judge with some form of personal investment in the result should recuse themselves...

  4. #4
    Banned
    Join Date
    Jul 2005
    Location
    Los Angeles, CA
    Last Seen
    02-16-11 @ 08:57 PM
    Gender
    Lean
    Centrist
    Posts
    36,915
    Blog Entries
    2

    Re: Judge who overturned drilling moratorium reported owning stock in drilling compan

    Quote Originally Posted by megaprogman View Post
    Judge who overturned drilling moratorium reported owning stock in drilling companies - Yahoo! News



    I am not a legal expert, but at what point must a judge recuse himself? Ultimately, while I do agree with the judgment made, I am a bit nervous about the objectivity that can be maintained by any judge who has a possible personal reason to make a ruling.
    Before jumping to any conclusions, I would have to ask this: does he manage his own financial portfolio or does someone else do that for him? If so, how involved in the picking of his own stocks is he? And finally, what stake in each company does he have? Is it less than a percent? More than 10%? How much of his entire portfolio is invested in those particular stocks?

    Just because he has stocks in drilling doesn't mean that those stocks were even in his thoughts when he ruled.

  5. #5
    Liberal Fascist For Life!


    Redress's Avatar
    Join Date
    Mar 2008
    Location
    Georgia
    Last Seen
    Today @ 12:27 AM
    Lean
    Very Liberal
    Posts
    93,268
    Blog Entries
    2

    Re: Judge who overturned drilling moratorium reported owning stock in drilling compan

    I mentioned this in another thread. My 401k has money in index funds. I therefore own indirectly some oil stocks. Would I have to recuse myself? Is there any evidcne the judges ruling was not based on sound legal precedent?
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

  6. #6
    Klattu Verata Nicto
    LaMidRighter's Avatar
    Join Date
    May 2005
    Location
    Louisiana
    Last Seen
    07-21-17 @ 02:42 PM
    Gender
    Lean
    Libertarian - Right
    Posts
    30,534

    Re: Judge who overturned drilling moratorium reported owning stock in drilling compan

    Quote Originally Posted by jallman View Post
    Before jumping to any conclusions, I would have to ask this: does he manage his own financial portfolio or does someone else do that for him? If so, how involved in the picking of his own stocks is he? And finally, what stake in each company does he have? Is it less than a percent? More than 10%? How much of his entire portfolio is invested in those particular stocks?

    Just because he has stocks in drilling doesn't mean that those stocks were even in his thoughts when he ruled.
    Quote Originally Posted by Redress View Post
    I mentioned this in another thread. My 401k has money in index funds. I therefore own indirectly some oil stocks. Would I have to recuse myself? Is there any evidcne the judges ruling was not based on sound legal precedent?
    I was about to deliver the bad news to everyone that if you own a retirement portfolio you have some investment in oil.......but you two beat me to it. Even if you manage your own fund.......somewhere down the line it has a tentacle in oil.
    Neither side in an argument can find the truth when both make an absolute claim on it.

    LMR

  7. #7
    Sage

    Join Date
    Sep 2007
    Last Seen
    09-24-17 @ 04:38 AM
    Lean
    Undisclosed
    Posts
    29,261

    Re: Judge who overturned drilling moratorium reported owning stock in drilling compan

    Quote Originally Posted by LaMidRighter View Post
    I was about to deliver the bad news to everyone that if you own a retirement portfolio you have some investment in oil.......but you two beat me to it. Even if you manage your own fund.......somewhere down the line it has a tentacle in oil.
    I inherited some oil investments.

  8. #8
    User
    Join Date
    Jun 2010
    Location
    Alabama
    Last Seen
    06-30-10 @ 05:49 PM
    Gender
    Lean
    Other
    Posts
    5

    Re: Judge who overturned drilling moratorium reported owning stock in drilling compan

    Quote Originally Posted by jallman View Post
    Before jumping to any conclusions, I would have to ask this: does he manage his own financial portfolio or does someone else do that for him? If so, how involved in the picking of his own stocks is he? And finally, what stake in each company does he have? Is it less than a percent? More than 10%? How much of his entire portfolio is invested in those particular stocks?

    Just because he has stocks in drilling doesn't mean that those stocks were even in his thoughts when he ruled.


    It does, however raise the spectre of impropriety, to avoid it, he should recuse himself.

  9. #9
    Klattu Verata Nicto
    LaMidRighter's Avatar
    Join Date
    May 2005
    Location
    Louisiana
    Last Seen
    07-21-17 @ 02:42 PM
    Gender
    Lean
    Libertarian - Right
    Posts
    30,534

    Re: Judge who overturned drilling moratorium reported owning stock in drilling compan

    Quote Originally Posted by pans trogladyta View Post
    It does, however raise the spectre of impropriety, to avoid it, he should recuse himself.
    Then the case couldn't be heard.....because everyone who invests has money in oil in one way or another.
    Neither side in an argument can find the truth when both make an absolute claim on it.

    LMR

  10. #10
    Banned
    Join Date
    Jul 2005
    Location
    Los Angeles, CA
    Last Seen
    02-16-11 @ 08:57 PM
    Gender
    Lean
    Centrist
    Posts
    36,915
    Blog Entries
    2

    Re: Judge who overturned drilling moratorium reported owning stock in drilling compan

    Quote Originally Posted by pans trogladyta View Post
    It does, however raise the spectre of impropriety, to avoid it, he should recuse himself.
    No, and in fact, in looking at the report, he owned the stocks in 2008, it isn't even clear if he still owns them or not, and his stake in each company was in the "less than $15k" range.

    He has no need to recuse himself.

Page 1 of 5 123 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •