oil boom
Crude wealth explosion
Oil boom has two distinct meanings.
One is a period of rapid economic growth driven by petroleum discovery or production, when money flows freely and boomtowns spring up around drilling operations: The Texas oil boom of the early 1900s transformed the state's economy.
The other is a floating barrier used to contain oil spills on water, preventing the slick from spreading to shorelines or sensitive ecosystems.
Context usually makes clear which boom is meant—the economic phenomenon or the cleanup equipment.
- boomtownRapidly growing community
- petroleum industryCrude extraction and refining businesses
- drilling rigsEquipment for boring wells
- offshore drillingExtracting petroleum from seabed
- pump jackMechanical oil well extractor
gusher · fossil fuels · petrochemicals · resource extraction · energy market · cleanup operations · Texas · refinery · fracking · shale · commodity prices · dispersants · derrick · black gold · liquid gold · strike it rich · wellhead · speculation
- commodity boomgold rush, mining boom, energy boom
- resource boomsgold rush, silver rush, diamond rush
- Gulf HistoryPersian Gulf, Gulf States, Abu Dhabi, Sharjah, pearl diving
- Latin American Economicsimport substitution, debt crisis, hyperinflation, foreign debt, export economy
- energyelectricity, power, fuel, gas, battery
- AlaskaFairbanks, Juneau, Denali, Sitka, Kodiak
oil boombust
Failure or sculpture
price collapse · recession · depression · market crash · economic downturn