of August 5th, subtract 2 days, and move ahead to next quarter, we have Nov. 3rd to be a stockholder to get the 10% dividend.

People on this board have been wondering what is wrong with this stock lately. The answer is you don't have to own it with all the implied risk until Nov. 3rd to get the dividend. The stock will start going up from here until then, and of course drop by 10% the next day.

One good thing about Williams is they have a large insider % ownership, meaning they want the dividend along with all of us. Look at a similar company, pennwest. High dividend like Williams, but why no insiders?

Now as far as all those comments about gas prices...well that is a tough one. But the simple answer is its simple supply and demand. As prices stay low versus oil, there will be some plants opening up to convert the gas to liquied fuels (the Fischer-Tropsch process). Lot of that going on right now, including right there in Tulsa not more than 10 miles from One Williams Center. They are called Syntroleum (SYNM). You can look up the process easily by going to Wikipedia. Also new power plants will not be putting in coal or nuclear with gas this cheap. Also, the push for natural gas vehicles...big tax credit for 18-wheelers to replace engines with Nat. gas ones. They get a $65,000 credit.

Anyway, after being in the oil business for 20 years, it is always supply and demand. Prices drop people stop drilling, like they have in the Marcellus shale. Since all existing wells have a decline curve, supply starts dropping and prices start backup again. And over and over.

You always, always, want to invest in O&G whether stocks or wells or whatever when prices are low. You sell when things get crazy like last year.