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Overturning the Drilling Ban: Judge Feldman's Own Words

Tuesday, 22 Jun 2010 | 4:45 PM ET

Troll through Judge Martin L.C. Feldman's 22-page ruling, which blocked the offshore drilling moratorium imposed by the Obama administration, and you can hear the voice of a man clearly exasperated by the logic of those who have argued for the moratorium:

"The report makes no effort to explicity justify the moratorium: it does not discuss any irreparable harm that would warrant a suspension of operations, it does not explain how long it would take to impelment the recommended safety measures."

"If some drilling equipment parts are flawed, is it rational to say all are? 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."

The Judge goes on to rather snarkily note: "...the Court is unable to divine or fathom a relationship between the findings and the immense scope of the moratorium." He concluded by noting that "...the Court has found the plaintiffs would likely succeed in showing that the agency's decision was arbitrary and capricious."

Top Drillers/Oil Servicers Now:

Transocean

Noble

Halliburton

Diamond Offshore

Nabors Industries

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  • A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

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