‘Eagle Ford Dividend’ Reaped by Motorists

Wednesday, February 26th, 2014 and is filed under Oil and Gas Current Events

Oil industry experts say Americans today are seeing at the pump what you might call the ‘Eagle Ford Dividend,’ the gasoline consumer’s payoff for the boom in oil drilling in Texas and elsewhere, 1200 WOAI news reports.

David Holt, President of the Consumer Energy Alliance, points out that paralyzing unrest, described by some as a ‘revolution’ is occurring right now in Venezuela, which is one of America’s largest oil suppliers.

If you didn’t know that, it’s because the unrest in this OPEC member nation is having no impact on the price you and I pay for gasoline.

“What we’re seeing this week and last week in Venezuela, just last year would have increased crude oil prices exponentially,” Holt said.

In fact, gas prices have been steady in San Antonio for the past two weeks, averaging $3.14 a gallon, according to GasBuddy.com. A slight jump earlier this month is blamed on traditional late winter price movements, including refinery maintenance and the beginning of the shift to summer blend gasoline.

Read more at WOAI Radio News