Exhibit 12.1

MAGELLAN MIDSTREAM PARTNERS, L.P.

RATIO OF EARNINGS TO FIXED CHARGES

(In thousands)

	Twelve Months Ended December 31,															Six Months Ended June 30,
	2003			2004			2005			2006			2007			2008
EARNINGS:
Income from continuing operations before income taxes, extraordinary gain (loss) and cumulative effect of change in accounting principle*	$	88,169		$	108,601		$	156,379		$	189,404		$	240,331		$	186,859
Add: Fixed charges		39,779			41,657			56,656			60,599			59,714			26,147
Amortization of capitalized interest		462			463			465			475			533			305
Distributed income of equity investees		—			—			3,300			4,125			3,800			2,500
Less: Interest capitalized		(102	)		(426	)		(817	)		(2,371	)		(4,452	)		(2,412	)
Total earnings	$	128,308		$	150,295		$	215,983		$	252,232		$	299,926		$	213,399
FIXED CHARGES:
Interest expense, net of interest capitalized	$	36,597		$	37,893		$	52,554		$	55,107		$	52,812		$	23,275
Interest capitalized		102			426			817			2,371			4,452			2,412
Debt amortization		2,830			3,056			2,871			2,681			2,144			337
Rent expense representative of interest factor		250			282			414			440			306			123
Total fixed charges	$	39,779		$	41,657		$	56,656		$	60,599		$	59,714		$	26,147
Ratio of earnings to fixed charges		3.2			3.6			3.8			4.2			5.0			8.2

* Excludes income from equity investments.