Note
Gasoline Prices and Electoral Politics in the Age of Unconventional Oil
With average US gasoline prices approaching $4 per gallon, markets are trying to gauge the impact of high oil costs on a fragile US economic recovery. Some analysts have argued that surging unconventional oil production in North America will make this price spike less harmful than those in the past. But for the political class, it’s not the nation-wide picture that matters as much as what’s happening state-by-state. And it’s here that the domestic oil boom has particularly interesting effects.