This chapter shows how the logic and semantics of counterfactuals create formidable problems for the tracking account. It presents counterexamples to the tracking account and considers its extensional adequacy more broadly. Then, the chapter examines Keith DeRose's view that sensitivity theorists have nothing to fear from counterexamples. The chapter discusses a family of propositions which the tracking account wrongly treats as unknowable. The tracking account is incompatible with knowledge by induction, despite various arguments to the contrary. The logical and semantic properties of subjunctive conditionals have been investigated in depth for decades. The clash between the tracking condition and the Closure Principle is a principal reason why the tracking account has been interesting and important to epistemologists. The tracking account can survive only if there is some way to reconcile it with knowledge by induction.