They’re celebrating in Lubbock…lol.
Lubbock is not an oil town, particularly.
Midland/Odessa, in contrast, people are popping corks, left and right.
All that said, $90 oil today is $70 oil of yesterday, due to devaluation of the dollar. It’s really not outrageous at all. It’s about the right price for healthy domestic USA development.
I know no one likes to heat that, but it’s true.
Oil and gas development is very expensive, dangerous, and financially risky. It needs to turn a healthy profit or it doesn’t happen.