Six mega-trends are combining to persistently drive gasoline prices higher until price kills demand: Peak Fracking occurred in June 2015 . Since Peak Fracking, US Oil Production has decreased approximately 0.672 million barrels per day (mb/d). To put this change in perspective, the 1973 Oil Embargo was a 6 months, 1.2 mb/d reduction . In the next 10 months, losses will exceed the Oil Embargo and will last forever. The Oil Embargo caused oil prices to quadruple. (click to enlarge) Fracked oil wells deplete quickly, and account for half of US oil production. The current drilling rig count is 420 . To sustain fracking production at least 1,840 drilling rigs are required (rig count in December 2014) to replace depleting wells. Frackers are $200 billion in debts and behind on payments. Access to capital to drill more wells will be complicated by current debts, high extraction costs, and short […]