Who develops HTML5? [HTML5 Open-Source]

This question hit me:"Who develops HTML5?" We keep hearing about HTML5 and how it is the "future" of the web. In my opinion, I feel the web is transitioning to HTML5 at a very slow pace. So I asked myself, who should I blame? Simply put, I decided it was the developers of HTML5.

1) Who are they? 2) Why should we wait for them? Why can't HTML5 be open-source? Wouldn't it advance a lot faster? 3) Again, who is developing HTML5?!