Ronald has studied oil and gas markets for over 38 years, starting as an economist in the Office of Budget and Management, in the Office of the Governor of Alaska. He followed this with positions as VP and Senior Economist with Economic Insight, Inc., in Portland, Oregon and Senior Research Fellow with the East-West Center, in Honolulu, Hawaii. Ron has held academic posts with the University of Tulsa (USA), Curtin University (AUS), Macquarie University (AUS), and Edith Cowan University (AUS), and as a Visiting Associate Professor with the Chinese University of Hong Kong (CHINA), and as a Visiting Professor with Beihang University (CHINA). Dr. Ripple earned a PhD in Economics from the University of Oregon, and an MA (Econ) and BS (Fin) from the Pennsylvania State University.
WTI Negative Price and Cushing, Oklahoma, Crude Oil Storage Capacity: The Importance of 15%
Working storage capacity at Cushing, Oklahoma, is approximately 77 million barrels, which represents about 15% of the United States’ (U.S.) total working crude oil storage capacity, excluding the Strategic Petroleum Reserve. Cushing storage is important to the U.S. crude oil industry because it is the delivery and pricing point for the New York Mercantile Exchange (NYMEX) light sweet crude oil futures contract, typically referred to as the West Texas Intermediate (WTI) contract.13th May 2020