The term "Oil Boom" refers to a rapid increase in oil production and economic growth in a specific region, often leading to significant investment and job creation. This phenomenon typically occurs when new oil reserves are discovered or when advancements in extraction technology make previously inaccessible oil economically viable. Regions like Texas and North Dakota have experienced oil booms, attracting workers and businesses. While these booms can lead to economic prosperity, they may also result in challenges such as environmental concerns and fluctuations in local economies once the oil supply stabilizes or declines.