The energy industry had some of the hottest stocks on the market over the past two years, but with fears of a recession potentially dampening demand for oil and gas, the S&P 500 Energy index is down 25% since its peak last month.

The cost of a barrel of oil is down to around $100 per barrel, and gasoline at the pumps has broken from its record high last month of $5 a gallon. But upstream, midstream, and downstream energy stocks are still taking a beating.

That makes it a critical time to consider where you've been putting your money to work and whether you should be investing in dividend stocks to protect your downside. History shows income-generating stocks outperform non-dividend stocks even in the worst of times, so if we're heading into a new period of market turbulence, it may be the right time to find companies that pay a safe dividend and can pad your pockets during this uncertainty.

Chevron and Enterprise Products Partners offer two of the most dependable dividends in the energy sector right now.

Chevron

As one of the biggest integrated energy companies, Chevron stands to benefit from the global need for fossil fuels that will last for years, decades even. Despite alternative fuel sources filling an increasing percentage of our energy needs, there isn't the capacity available for wind, solar, or biofuels to displace oil and gas as our primary providers.

Even though oil's price has dropped from its highs, it remains elevated and will likely stay elevated for some time to come. Chevron has told investors that even if oil drops to $50 a barrel -- what it deems its break-even price -- it would be able to maintain its record-setting stock buyback rate of $10 billion annually plus finance its dividend without worry, while a price of $75 a barrel would allow for further increases in both.

It also noted that during the depths of the pandemic lockdown with oil averaging $30 a barrel (there was a point where the price even went negative), Chevron maintained its payout while still investing in its business even as many of its rivals suspended their dividends.