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Cushing, Oklahoma |
| Cushing, Oklahoma | |
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| Coordinates: | |
| Country | United States |
|---|---|
| State | Oklahoma |
| County | Payne |
| Area | |
| - Total | 7.6 sq mi (19.8 km²) |
| - Land | 7.6 sq mi (19.8 km²) |
| - Water | 0.0 sq mi (0.0 km²) |
| Elevation | 935 ft (285 m) |
| Population (2000) | |
| - Total | 8,371 |
| - Density | 1,096.1/sq mi (423.2/km²) |
| Time zone | Central (CST) (UTC-6) |
| - Summer (DST) | CDT (UTC-5) |
| ZIP code | 74023 |
| Area code(s) | 918 |
| FIPS code | 40-188501 |
| GNIS feature ID | 10918972 |
Cushing is a city in Payne County, Oklahoma, United States. The population was 8,371 at the 2000 census.
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Cushing is located at (35.982628, -96.764171)3. According to the United States Census Bureau, the city has a total area of 7.6 square miles (19.8 km²), of which, 7.6 square miles (19.8 km²) is land and 0.13% is water.
As of the census1 of 2000, there were 8,371 people, 3,071 households, and 2,002 families residing in the city. The population density was 1,096.1 people per square mile (423.0/km²). There were 3,636 housing units at an average density of 476.1/sq mi (183.8/km²). The racial makeup of the city was 79.66% White, 7.02% African American, 7.97% Native American, 0.13% Asian, 0.90% from other races, and 4.32% from two or more races. Hispanic or Latino of any race were 2.70% of the population.
There were 3,071 households out of which 29.9% had children under the age of 18 living with them, 48.7% were married couples living together, 12.4% had a female householder with no husband present, and 34.8% were non-families. 31.3% of all households were made up of individuals and 16.1% had someone living alone who was 65 years of age or older. The average household size was 2.39 and the average family size was 2.99.
In the city the population was spread out with 22.9% under the age of 18, 10.0% from 18 to 24, 29.5% from 25 to 44, 20.0% from 45 to 64, and 17.6% who were 65 years of age or older. The median age was 37 years. For every 100 females there were 111.4 males. For every 100 females age 18 and over, there were 115.6 males.
The median income for a household in the city was $26,483, and the median income for a family was $32,284. Males had a median income of $26,710 versus $17,711 for females. The per capita income for the city was $12,620. About 15.1% of families and 16.4% of the population were below the poverty line, including 21.0% of those under age 18 and 10.1% of those age 65 or over.
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) 4 and has been cited5 as the most significant trading hub for crude oil in North America. As of 2007, Cushing holds 5% to 10% of the total U.S. crude inventory. Signs made of a pipe and valve on the major highways near town proclaim Cushing to be the "Pipeline Crossroads of the World", and the town is surrounded by several tank farms. Most storage tanks are owned by four entities: oil giant BP, and energy-transport and logistics firms Enbridge Energy Partners, Plains All American Pipeline, and SemGroup Energy Partners.
On April 13, 2007, a Lehman Brothers study claimed that WTI Crude at Cushing is no longer an accurate gauge of world oil prices6. A large stockpile of oil at the facility (mainly due to a Valero refinery shutdown7) has caused prices to be artificially depressed at the Cushing pricing point.
Cushing will be the southernmost hub of the proposed 2,148 mile Keystone Pipeline that will transport up to 590,000 barrels a day of crude oil from Hardisty, Alberta. Other major pipelines reaching Cushing include the Spearhead and Pegasus pipelines.
In the early 20th century, Cushing was a center for exploration of and production from nearby oil fields. At least two refineries operated in the town. As the oil fields started to run dry, starting in the 1940s, production and refining became less important. However, the maze of pipelines and tanks that had been built led to the NYMEX choosing Cushing as the official delivery point for its light sweet crude futures contract in 1983.
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