OPEC Oil Ban and Litigation
Federal administrators are considering ending a ban on crude oil exports created in the wake of the 1973-74 OPEC oil embargo. It could potentially change the game significantly for global oil producers, traders, refiners and consumers. Of course, the current shale boom has already changed the game. In the midst of the boom, however, the Lone Star State has found itself in a paradoxical quandary: once extracted, much of the oil produced here just sits, waiting to be refined.
A courthouse observer was overheard saying, ““The Eagle Ford has been a wonderful windfall, but it’s also generated a lot of litigation.”
Possibly the biggest Eagle Ford-related legal tangle is set to start Tuesday in the Bexar County District Court. The South Texas Syndicate Trust claims that JP Morgan/Chase Bank mismanaged the mineral rights of 132,000 contiguous acres in LaSalle and McMullen counties. Read more at the San Antonio Express News
This has been Randy Watson of the NO Bull Radio network for the Eagle Ford Minute. For more information visit Nobullradio.com