Commentary by Ann Woolner
June 4 (Bloomberg) -- Good news for BP Plc. and other oil, coal and chemical companies seeped out last week from New Orleans, barely noticed in the blanket coverage of the as-yet uncontrolled oil gusher in the Gulf of Mexico.
Without having to prove they deserved to, the companies won a widely watched global warming lawsuit. If it weren’t for the unrelated disaster along the Gulf Coast, you would see more cheering about it from the energy sector.
The funny thing is that the companies won because appellate judges with conflicts of interest, presumably because of stock ownership, stepped off the case. Without a quorum the judges couldn’t consider the case, so they dismissed it.
The outrageous part is that three, un-conflicted judges on that same court had already ruled against the energy companies in the same case. But their opinion was nullified and is now dead, according to the court.
http://www.bloomberg.com/apps/news?pid=20601039&sid=adwKV0Lr8D4w