WHO WINS AND LOSES WHEN GAS PRICES SKYROCKET?

The article discusses the economic implications of skyrocketing gasoline for U.S. politicians, consumers and oil companies. More than any issue, gasoline has the potential of turning the 2006 congressional elections into a national referendum. Republicans are turning on the oil industry and ineffectual remedies for pulling down prices are being proposed by both parties. High energy prices are hurting workers and devastating certain industries, in particular the airlines. Yet a number of analysts argue that the best way to encourage conservation may be to raise gas prices, not lower them.