Exhibit 12

The Williams Companies, Inc.
Computation of Ratio of Earnings to Fixed Charges
(Dollars in millions)

	Six months ended
	June 30, 2005
Earnings:
Income from continuing operations before income taxes	$	414.1
Minority interest in income of consolidated subsidiaries		10.0
Less: Equity earnings		(27.5	)
Income from continuing operations before income taxes, minority interest in income of consolidated subsidiaries and equity earnings		396.6
Add:
Fixed charges:
Interest accrued, including proportionate share from equity-method investees		338.8
Rental expense representative of interest factor		9.7
Total fixed charges		348.5
Distributed income of equity investees		44.1
Less:
Capitalized interest		(2.5	)
Total earnings as adjusted	$	786.7
Fixed charges	$	348.5
Ratio of earnings to fixed charges		2.26