America is going through an oil boom — and this time it's different

Drilling rigs sit unused on a lot in Odessa, Texas, in the Permian Basin, in March 2022. U.S. oil companies are thriving as they look to avoid the boom-and-bust cycles of the past. That has big implications, including for consumers and global producers. (Joe Raedle/Getty Images)

MIDLAND, Texas — America's oil industry is booming — in a surprising way.

It doesn't look much like the booms of the past, when companies would scramble to pump as much oil as possible and the region would attract so many workers it became impossible to find housing and free hotel rooms.