let's go to mike keir? >> well, it's interesting. if you look at what the options markets are implying right now, they are absolutely not forecasting the steady dividend growth that the oil companies are well known for. as you look out to next year, some of the big names are definitely looking like the options market think there could be a cut. that makes sense. let's look at exxon as an example. here's a company doing over $24 billion of free cash flow last year. probably about $2 billion this year. you see similar declines in bp. chevron this year, we're going to look at probably 9 billion in negative free cash flow. it's pretty hard to continue to the support dividends when you have cash flow that was once extremely positive turning very negative. specifically, let's look at bp. think i we're looking at 38% year on year implied cut in the dividend. chevron 25%. exxon about 30%. >> the troubling thing is, a lot of companies that have not cut the dividends yet, they've suspended the buybacks. the dividends could go higher on a yield