In ‘Essence and Modality’, Kit Fine (1994) proposes that for a proposition to be metaphysically necessary is for it to be true in virtue of the nature of all objects. Call this view Fine’s Thesis. This paper is a study of Fine’s Thesis in the context of Fine’s logic of essence (LE). Fine himself has offered his most elaborate defence of the thesis in the context of LE. His defence rests on the widely shared assumption that metaphysical necessity obeys the laws of the modal logic S5. In order to get S5 for metaphysical necessity, he assumes a controversial principle about the nature of all objects. I will show that the addition of this principle to his original system E5 leads to inconsistency with an independently plausible principle about ...