U.S. District Judge Martin Feldman, who was appointed by President Ronald Reagan and has owned stock in a number of petroleum-related companies, sided with the plaintiffs.
"If some drilling equipment parts are flawed, is it rational to say all are?" he asked. "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."
He also warned that the shutdown would have an "immeasurable effect" on the industry, the local economy and the U.S. energy supply.
The ruling was welcomed by the oil and gas industry and decried by environmentalists.
Feldman's financial disclosure report for 2008, the most recent available, shows holdings in at least eight petroleum companies or funds that invest in them, including Transocean Ltd., which owned the Deepwater Horizon. The report shows that most of his holdings were valued at less than $15,000; it did not provide specific amounts.
It was not clear whether Feldman still has any of the energy industry stocks. Recent court filings indicate he may no longer have Transocean stock. The 2008 report showed that he did not own any individual shares in big companies such as BP, which leased the rig that exploded, or ExxonMobil.
Feldman did not immediately respond to a request for more information about his current holdings.
Josh Reichert, managing director of the Pew Environment Group, said the ruling should be rescinded if he still has investments in companies that could benefit from Tuesday's ruling.
"If Judge Feldman has any investments in oil and gas operators in the Gulf, it represents a flagrant conflict of interest," Reichert said.
http://www.chron.com/disp/story.mpl/ap/top/all/7074274.html:nuke:
He's nothing but a high priced prostitute in a black robe!
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