BS. At that time, the price of oil never reached half of today's price.
While gasoline prices were not that low.
I had a lease and was selling oil the last half of the 90’s.
The only reason the price of oil was as high as it was (now there’s a joke for you) the gatherers weren’t buying oil unless it met a very specific set of requirements.
In 1999 a lot of independent operators couldn’t sell their oil at any price.
Others were selling as low as $7.
Nice of you to use charts where the vertical axis is an order of magnitude greater on one to try to prove a point.