williams and equity get slaughtered yesterday, even as they rebounded tiny bit today. they have huge composure to chesapeake's pipeline company. wealthy individuals are loaded to the gills with the partnerships and the stocks tend to trade together. the losses staggering. now i don't by any means mean to pick on chesapeake. it's a little atypical most energy companies warrant as reckless whether they put together the portfolios m are of capital expenditures, much of which they don't have the current cash on hand to pay for. here's the thing. many of you have asked me how can it matter so much if oil stays down? the silver lining, if these companies can just stop drilling for whatever reason, including bankruptcy, then the price of oil will finally be able to go higher. but that is like wandering through the desert to cross the river jordan. not a lot of firms will make it to the land of milk and honey. so here's the bottom line. if we get enough chesapeakes to stop drilling, oil will indeed find a bottom. in the interim though, expect the pain to continue rippling throughout system every time oil falls, a dollar from here, one dollar, and, of course, every time oil rebo