I have a folder for scripts in ~/.bin and added that folder to my $PATH.

Having the following script placed in ~/.bin/extract and made executable with chmod +x ~/.bin/extract allows me to use the same command to extract any file like extract file.zip or extract file.tar.gz. If you are missing an executable used by this script just install it with homebrew.

#! /bin/bash
if [ -f $1 ]
then
  case $1 in
      *.tar.bz2)  tar -jxvf $1                        ;;
      *.tar.gz)   tar -zxvf $1                        ;;
      *.bz2)      bunzip2 $1                          ;;
      *.dmg)      hdiutil mount $1                    ;;
      *.gz)       gunzip $1                           ;;
      *.tar)      tar -xvf $1                         ;;
      *.tbz2)     tar -jxvf $1                        ;;
      *.tgz)      tar -zxvf $1                        ;;
      *.zip)      unzip $1                            ;;
      *.ZIP)      unzip $1                            ;;
      *.pax)      cat $1 | pax -r                     ;;
      *.pax.Z)    uncompress $1 --stdout | pax -r     ;;
      *.rar)      unrar x $1                          ;;
      *.Z)        uncompress $1                       ;;
      *)          echo "'$1' cannot be extracted/mounted via extract()" ;;
  esac
else
  echo "$1 is not a valid file"
fi