All roads lead to Cushing*

*Probably the first time in the history of Oklahoma that anyone has attempted to compare Cushing to Rome. Some random quotes and a few stray thoughts on the stupidest trade war imaginable. First off, when it comes to any story that is even partially about oil, the essential context is that we are now operating with little to no reserves. (Credit to CNN for their early and in-depth coverage of a story that has not been getting nearly enough attention.) For a quick Econ 101 review—which, given my lack of knowledge, is about as far as I should go—when demand exceeds supply in a textbook market, we expect prices to go up until either supply increases or demand decreases so that the two match up again. This has happened particularly in places like China, but not to the degree you'd expect, largely due to countries and companies dipping into their oil reserves to make up the difference. There's nothing wrong with this practice. It smooths out price swings, makes it far more difficult to…