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Could you explain what "Cushing" is please ?

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Mon May 28th, 2007 at 04:49:29 PM EST
Cushing is a city in Payne County, Oklahoma, United States. The population was 8,371 at the 2000 census.

...

Cushing is a major hub in oil supply connecting the Gulf Coast suppliers with northern consumers. Cushing is famous as a price settlement point for West Texas Intermediate on the New York Mercantile Exchange (NYMEX) and has been cited as the most significant trading hub for crude oil in North America. Signs made out of pipe and a valve on the major highways into town proclaim Cushing to be the "Pipeline Crossroads of the World", and the town is surrounded by several tank farms.



The economy needs to be thought of as a garden, not as a wild ecosystem
by Migeru (migeru at eurotrib dot com) on Mon May 28th, 2007 at 05:01:33 PM EST
[ Parent ]
Cushing is a way station for West Texas crude gathering on its way to Mid Western refiners in OK, KS, MS etc.

WTI (Cushing) isn't that big a stream -- only about 1 MMBD or 6-7% of US crude runs.

WTI isn't making it's way to USGC refiners in any big way.  Nor are the products from the refiners that run it heading to the Northeast.  Maybe a bit to the Midwest but not the big demand PAD I market that sets the US marker prices.

by HiD on Tue May 29th, 2007 at 02:35:19 AM EST
[ Parent ]
WTI (Cushing) isn't that big a stream -- only about 1 MMBD or 6-7% of US crude runs.

Is that a recent development? Is there a time when WTI(Cushing) was a larger proportion of US crude?

Is the real issue that light sweet crude is becoming an ever smaller fraction of the global oil market?

The economy needs to be thought of as a garden, not as a wild ecosystem

by Migeru (migeru at eurotrib dot com) on Tue May 29th, 2007 at 06:02:32 AM EST
[ Parent ]
Fairly recent.  WTI has faded slowly since the 70's while consumption has gone up up and away.  

Lt. Sweet supplies are indeed a problem.  But i think the current high prices are due to tight gasoline supplies and minimal reduction of demand.  We've had a big shutdown season + a couple of major falldowns.  That has gasoline on fire and therefore has gasoline crudes on fire (pricewise).  Couple that with Nigeria in a real mess and up up and away.

US refiners have been investing heavily in desulph capacity to make ULS Diesel, low S gasoline and to deal with heavier crudes.  But they didn't choose to keep the refining industry capacity in glut like it was from 1983-->2000 ish.

by HiD on Tue May 29th, 2007 at 06:41:24 AM EST
[ Parent ]
and that MS up there is wrong.  I meant MO = Missouri.  The only real refinery in MS is on the coast and is supplied by water for the most part.
by HiD on Tue May 29th, 2007 at 06:42:32 AM EST
[ Parent ]
Wikipedia is not better then what people make it.

If you want a wikipedia article to be better in any aspect the way to achieve it is to do it yourself.

Sweden's finest (and perhaps only) collaborative, leftist e-newspaper Synapze.se

by A swedish kind of death on Thu May 31st, 2007 at 07:38:37 PM EST
[ Parent ]

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