resource boom
Extraction wealth explosion
A resource boom is a period of rapid economic growth driven by extraction or export of natural resources—typically minerals, oil, or gas.
Such booms often transform regional economies quickly: The resource boom brought thousands of workers to the area.
The term frequently appears in discussions of economic volatility, since resource-dependent economies can crash when prices fall or deposits deplete.
- oilSlippery viscous fluid
- black goldSlang for petroleum
- goldElement seventy-nine
- gold rushMass migration seeking ore
- miningExtracting earth's resources
prosperity · economic growth · wealth · extraction · drilling · commodity · surge · price spike · windfall · pipeline · frontier · boomtown · speculation · rush · bust · natural gas · oil field · tar sands
- Gold RushCalifornia Gold Rush, gold miners, gold mining, gold flakes, gold nuggets
- Western CanadaAlberta, Saskatchewan, Manitoba, Edmonton, Calgary
resource boomrecession
Prolonged economic decline
economic depression · price collapse · market crash · resource depletion · economic downturn
resource boomslow growth
Minimal rate of increase
sustainable development · organic growth · economic stagnation · planned development · industrial development
resource, resources, resourced, resourceful, resourcefulness, resourceless, resourcing, boom, booms