Oil production

There is an ongoing argument as to why we have a shortage of fuel oil and gasoline. One group says the government is interfering in the production and another says the oil companies are refusing to produce. The second argument doesn't hold water. They are saying that the oil companies now have huge profits so they don't want any more. They could produce and sell oil at $100 per barrel but they are satisfied with the status quo. The oil companies are currently producing 1.5 million barrels per day less than they were two years ago and at $100 per barrel they are passing up one billion dollars per week in profits and they are satisfied with this arrangement. NOT!