All that’s needed is to investigate all the t-Bone Pickens, George Sor*sses, and Warren Buffet-lines, and upon conviction bury them where nobody will ever discover them.
The key word here is “futures”. If China and India’s need for oil continues to grow and there is still only a set supply then of course the price will rise. It is rising on the FUTURE needs. If we lifted the bans on drilling here the price would drop significantly because there would be an influx of oil from another source in the future. It is SUPPLY AND DEMAND, plain and simple.