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June 25, 2010

Obama Faces Another Setback on Drilling Moratorium
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A federal judge has rejected the latest attempt by the Obama
administration to continue its six-month ban on deepwater oil drilling
in the Gulf of Mexico. The White House imposed the ban last month as the
BP oil spill spiraled into what many have called the worst environmental
disaster in US history. On Thursday, US District Judge Martin Feldman
refused to stay his June 22 order lifting the moratorium. A Reagan
appointee, Feldman has extensive stock holdings in energy companies,
including Transocean, which owned the Deepwater Horizon oil rig where
the explosion occurred, and Halliburton, which also performed work at
the site. Feldman also owns stock in two of BP’s largest shareholders,
Black Rock and JPMorgan Chase.



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