Exhibit 12

The Williams Companies, Inc.
Computation of Ratio of Earnings to Fixed Charges

	Years Ended December 31,
	2010			2009			2008			2007			2006
	(Millions)
Earnings:
Income (loss) from continuing operations before income taxes	$	(946	)	$	943		$	2,144		$	1,400		$	533
Less: Equity earnings, excluding proportionate share from 50% owned investees and unconsolidated majority-owned investees		(56	)		(49	)		(61	)		(60	)		(99	)
Income (loss) from continuing operations before income taxes and equity earnings		(1,002	)		894			2,083			1,340			434
Add:
Fixed charges:
Interest accrued, including proportionate share from 50% owned investees and unconsolidated majority-owned investees (a)		667			691			658			688			671
Rental expense representative of interest factor		13			15			21			22			16
Total fixed charges		680			706			679			710			687
Distributed income of equity-method investees, excluding proportionate share from 50% owned investees and unconsolidated majority-owned investees		58			33			53			48			113
Less:
Capitalized interest		(51	)		(76	)		(59	)		(32	)		(17	)
Total earnings as adjusted	$	(315	)	$	1,557		$	2,756		$	2,066		$	1,217
Fixed charges	$	680		$	706		$	679		$	710		$	687
Ratio of earnings to fixed charges		(b	)		2.21			4.06			2.91			1.77

(a)	Does not include interest related to income taxes, including interest related to liabilities for uncertain tax positions, which is included in provision (benefit) for income taxes in our Consolidated Statement of Operations.
(b)	Earnings are inadequate to cover fixed charges by $995 million.