In yesterday's edition, I talked about an oil services company that benefits from higher oil prices.

But higher oil prices don't just benefit oil companies. In fact, higher oil prices can sometimes hurt oil companies - because higher oil prices frequently reflect higher production costs - so while a company might get more dollars per barrel, each barrel costs it more to get out of the ground. And even though the effect is usually small, higher prices typically result in a somewhat diminished demand.

According to Enerdata, an independent energy consulting company, gasoline consumption dropped 4.5% in North America during the record high oil prices of 2008. That's certainly a significant drop, but as you're probably painfully aware, oil prices more than doubled from the previous year:

CVR Energy Inc. (Nasdaq:CVI), Green Plains Renewable Energy Inc. (Nasdaq:GPRE) and Western Refining Inc. (Nasdaq:WNR) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Mitcham Industries Inc. (Nasdaq:MIND), Stillwater Mining Co. (Nasdaq:SWC), Cosan Ltd. (Nasdaq:CZZ), New Hampshire Thrift Bancshares Inc. (Nasdaq:NHTB), Daktronics Inc. (Nasdaq:DAKT) and Clinical Data Inc. (Nasdaq:CLDA).

Inergy Holdings LP (Nasdaq:NRGP), North American Energy Partners Inc. (Nasdaq:NOA) and Hiland Holdings GP LP (Nasdaq:HPGP) are among the new 52-week lows in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Flotek Industries Inc. (Nasdaq:FTK), Psychemedics Corp. (Nasdaq:PMD), Cheniere Energy Partners L P (Nasdaq:CQP), Cosan Ltd. (Nasdaq:CZZ), EZchip Semiconductor Ltd. (Nasdaq:EZCH) and Safe Bulkers Inc. (Nasdaq:SB).

Here are the new 52-week lows among small caps: