Top Ten Videos to watch

Toddler Caught In Crossfire Of Shooting In Chicago
HISTORY Brings 'Roots' Cast And Crew To The White House For Screening
Graduates tossing caps into the air
Freddie Gray Baltimore Protests
Mid section of man in graduation gown holding diploma
Legendary Baseball Player Tony Gwynn's Family Files A Lawsuit Against Big Tobacco
ME.jailhouse#2.0117.CW Montebello City Council has approved use of a private contractor to run the n
Chicago Mayor Rahm Emanuel Addresses Police Misconduct At Chicago City Council Meeting
WWII Soldiers Standing In A Flag Draped Sunset - SIlhouette
Students Taking a College Exam
Bill Cosby Preliminary Hearing
Hillary Clinton Campaigns In Louisville, Kentucky
Worried black businesswoman at desk
Tyler Perry And Soledad O'Brien Host Gala Honoring Bishop T.D. Jakes' 35 Years Of Ministry
Teacher with group of preschoolers sitting at table
FBI Officials Discuss Apprehension Of Explosions Suspect After Three-Day Manhunt
NFC Championship - San Francisco 49ers v Atlanta Falcons
US-POLITICS-OBAMA
Protests Erupt In Chicago After Video Of Police Shooting Of Teen Is Released
24673281
US-VOTE-DEMOCRAT-SANDERS
Nine Dead After Church Shooting In Charleston
Portrait of senior African woman holding money
Medicare
President Bush Speals At Federalist Society's Gala
Police
Police Line Tape
Senior Woman's Hands
Police officers running
New Orleans Residents Return to Housing Projects
Leave a comment

Gulf Oil Spill

WASHINGTON — The Louisiana federal judge who struck down a six-month ban on deepwater oil drilling has sold many of his energy investments, a financial disclosure report released Friday reveals.

U.S. District Judge Martin Feldman’s disclosure report, which covers investments for 2009, shows he owned eight energy-related investments including stock in Exxon Mobil Corp.

However, in an attachment to the report, the judge said he sold his Exxon Mobil stock this June when he was hearing the oil spill case.

Click below to view photos of the oil spill:

In last year’s disclosure report, Feldman owned up to 16 energy-related investments.

Among the assets sold was stock in Transocean, the Switzerland-based company that owned the drilling rig operated by BP that is now spewing oil into the Gulf .

Feldman, a 1983 nominee of President Ronald Reagan, struck down the Obama administration’s six-month moratorium on deepwater oil drilling in the Gulf of Mexico, disputing what he said was the government assumption that because one rig exploded, others posed an imminent danger.

On Thursday, Feldman refused to place his ruling on hold while the government appeals.

Feldman’s Exxon Mobil stock in 2009 was valued at $15,000 or less and produced an income of less than $1,000.

The judge has an investment in Ocean Energy valued between $15,001 and $50,000, which produces interest valued between $1,001 and $2,500.

Other holdings include investments in Provident Energy Trust, El Paso Corp., Energy Transfer Equity, Basic Energy Services, Valero Energy Corp. and Crosstex Energy LP.

Values of investments and income are expressed in ranges rather than precise amounts.

An Associated Press analysis has found that more than half of the federal judges in districts where the bulk of Gulf oil spill-related lawsuits are pending have financial connections to the oil and gas industry. This could complicate the task of finding judges without conflicts to hear the cases.

Federal judicial rules require judges to disqualify themselves from hearing cases involving a company in which they have a direct financial interest.

However, financial conflict rules have some leeway. For example, a judge does not have to step aside if investments are part of a mutual fund over which they have no management control.

Further, mere ties to companies or entities in the same industry, no matter how extensive, do not require disqualification.

RELATED STORIES

Obama To Extend Moratorium On Offshore Drilling

Judge Overturns Obama’s Offshore Drilling Moratorium