Supply, demand doesn't explain it

I keep hearing that these high gas prices, falling gas prices are the result of supply and demand.

And of course, every time there's a crisis, a storm in the Gulf or a threat from another dictator, prices rise in a matter of hours.

Recently, the price of crude closed near $115 a barrel. The Associated Press tells me that crude was at $142 on July 3. I'm not a mathematician, but my calculator shows that's a drop of approximately 20 percent in about six weeks.

I buy my gas from the same station nearly every time I have to fill up. According to my receipts, six weeks ago I was paying $4.27 a gallon. Yesterday, I paid $3.97. This represents a 7 percent decrease in price. Again, if my calculator is right, $4.27 minus 20 percent would be $3.42.

Someone is making an excess profit of 13 percentage points, or 55 cents, on every gallon of gas sold at that station, and it is a very busy station. I don't think it's the operator of the station. I think they get by on the coffee and candy bars I buy.

Is there any question why Exxon-Mobil, BP Amoco, Conoco, Chevron and their buddies are able to keep posting the astronomical profits they are reporting?

And how much longer will they control the White House? Through Jan. 20 or right on through a John McCain presidency?

McCain recently switched his longtime opposition to offshore drilling and received a $2 million contribution from oil companies within 48 hours.

I'm sure it was just a coincidence.

Tom Dillivan

Schaumburg