Oil and Gas

Today the Congress has held a hearing on the ever rising price of fuel. All fuel. This hearing is with the big execs from big oil. Over and over the executives say it is supply and demand issue. Not enough supply for the demand. This means the price inevitably goes up.
Problem is whenever the Congress asks the big execs why haven't they increased gas production in the U.S. more than the current 81% of current refinery output the BOE (big oil exec)adamantly say it is because there is no call for it. The demand for gas has gone down in the U.S. and there is a surplus at the current 81% so increasing supply would severely under cut the company's profits.
Now wait a minute. They started out by saying supply and demand is causing the high prices. Too much demand and not enough supply. Now they (BOE) are saying there is a surplus in the American supply and the demand is going down.
Correct me if I am wrong but if the demand is going down and the supply is in surplus isn't that the opposite of too much demand and not enough supply? When this inconsistency was pointed out they (BOE) hurriedly begin to say the world demand is up and the world supply is down thusly increasing the price.
Unfortunately that doesn't work either. Yes China and India are now demanding more and more oil which you would think increases the world demand but studies show that Europe and the U.S./Canada have decreased our demand substantially. So maybe the supply is much less then?
Problem is, it isn't. Russia produces more oil than it has ever before and OPEC is currently producing at some of the highest levels it ever has. Not to mention Canada, the U.S., Norway, Denmark, Venezuela and Mexico are all producing more than they have ever before.
So let's look at it again.
The world is producing more oil than it has ever in history. Although some countries have increased demand many have decreased their demand. At best demand is not increasing or decreasing but in a state of stasis (non movement). So why IS the price of gas so high?
Collusion, price fixing, artificially inflated prices due to speculative commodities brokers. That's where the price of oil actually comes from. Don't let anyone tell you differently. The problem is how do you or I get that fixed or at least under some control? The speculative commodities brokers are part of the most powerful people of America. You know, Wall Street money. Billion dollar hedge fund managers. If you want them under control you must regulate more closely the investing world of our economy. That's dangerous and difficult.
Dangerous in that it could become over regulated and the economy suffers. Dangerous because it could drive these billion dollar investors to other markets taking their money with them. Which would me out of the U.S. economy. Dangerous because it could destabilize hedge funds which are the primary source of retirement for millions of Americans. One day Judy Smith's retirement is safely set aside, the next this school teacher from Minnesota is now left without a retirement.
Difficult because all the money and power these investors wield over Congress and the Senate. Difficult because all the sway with law makers these billion dollar hedge fund managers have. Difficult because there are a great many people who truly believe a free market, totally free of any regulation at all, is the ONLY way to go. These people believe it like a religion.
So then we are left where we started. Congress holding hearings with powerful oil executives to attempt to reign in collusion and price fixing.
I guess until regular people stand up and force change (yeah like Obama is really going to change anything?) nothing will. Might as well get use to $5 a gallon regular gas because that's where we are going to be by the time anyone actually reads this post. Funny part is these hedge fund managers, speculative commodities brokers, politicians and big oil executives will never truly feel the pain of the price of gas. There is just too much money in between them and the strain of energy. Aint that a kick in the teeth?