>> If you read the original work he refers to the empty quarter because of population density
I do get your point on the "Extractotopia" name for the region, but personally would be more inclined to view it as ExtractoDystopia, ( google earth - fort mcmurray then you decide)
Of course after the oil and mining companies are done with it, the name "The Empty Quarter" could once again be the most applicable
Edit: spelling
(u)topia = with the negative prefix means "No Place."
(Dys)topia = with the prefix δυσ (dus) from the Greek meaning "bad, hard, difficult" place.
Obviously extractive industries are harmful, as we can see in the recent shale oil and natural gas boom, but I thought the "extract" part of that would convey the message with the additional "dys."
But my favorite explanation of all in these etymological games is that its a deliberate pun on Rub' al Khali in Saudi Arabia, translated as "The Empty Quarter", which contains some of the most massive oil fields in the world.