I never knew how important Cushing, Oklahoma was to the global economy. I'm not sure if I've ever been there. I've seen it on highway signs and heard of it but don't think I've ever passed through. It's a little out of the way from the Will Rogers Turnpike.
According to Business Insider: "World oil prices are controlled by the amount of crude oil stored
at Cushing, Oklahoma. That’s because Cushing is the pricing point for
WTI (West Texas Intermediate) oil prices, the most-traded oil futures
contract in the world."
Decades ago they used to call Tulsa the "Oil Capital of the World." I guess it's actually Cushing now. Storage capacity in Cushing is apparently at max meaning energy companies now have to pay to store it somewhere else. This has led to oil being worth negative dollars on the world market. Never thought I'd see that happen. Cushing, wow.
