No, it's not oil; it's related to shipping, and not tied to the region. (see my HN profile) I won't of course disclose my income, but I'm not picking extremes when I make that comparison. After all, I'm sure there's junior devs somewhere in Houston making $30k. I'm really just challenging the notion that success in software means accepting the reality of life in the Bay.
Both you and the parent comment are saying "if you know where to look". I'm sure those positions exist for specialized needs, where they'll pay anything. I'm not talking experts in middle-out compression here but rather up the middle developers. The kind who will interview for below market in exchange for equity, or at best, get market rates even though their living will cost 3x what it would cost in Houston.