EXHIBIT 12-2

MCN INVESTMENT CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES


|                                                    |                     |                          |         |                   |         |                   |          |                   |         |   |        |         |        |   |        |        |        | 
|--------------------------------------------------- | ------------------- | ------------------------ | ------- | ----------------- | ------- | ----------------- | -------- | ----------------- | ------- | - | ------ | ------- | ------ | - | ------ | ------ | ------ | 
|                                                    |                     | Twelve Months            |         | Twelve Months     |         | Twelve Months     |          | Twelve Months    
|                                                    |                     | Ended                    |         | Ended             |         | Ended             |          | Ended            
|                                                    |                     | June 30, 1999            |         | December 31, 1998 |         | December 31, 1997 |          | December 31, 1996
|                                                    |                     |                          |         |                   |         |                   |          |                  
|(Dollars in Thousands)                              |                     |                          |         |                   |         |                   |          |                   |         |   |        |         |        |   |        |       
|EARNINGS AS DEFINED(1)(4)(5)                        |                     |                          |         |                   |         |                   |          |                   |         |   |        |         |        |   |        |       
|                                                   
|                                                   
|                                                   
|                                                   
|Pre-tax income (2)(6)(7)                            |                     | $                        | (68,003 | )                 |         | $                 | (302,626 | )                 |         | $ | 37,929 |         |        | $ | 21,899 |       
|                                                   
|                                                   
|                                                   
|                                                   
|Fixed charges(3)                                    |                     |                          | 100,207 |                   |         |                   | 92,822   |                   |         |   | 65,891 |         |        |   | 41,628 |       
|                                                    |                     |                          |         |                   |         |                   |          |                   |         |   |        |         |        |   |        |       
|                                                    | Earnings as defined |                          | $       | 32,204            |         |                   | $        | (209,804          | )       |   | $      | 103,820 |        |   | $      | 63,527 |       
|                                                    |                     |                          |         |                   |         |                   |          |                   |         |   |        |         |        |   |        |       
|FIXED CHARGES AS DEFINED(1)(4)(5)                   |                     |                          |         |                   |         |                   |          |                   |         |   |        |         |        |   |        |       
|                                                   
|                                                   
|                                                   
|                                                   
|Interest, expensed                                  |                     | $                        | 96,754  |                   |         | $                 | 90,451   |                   |         | $ | 64,434 |         |        | $ | 40,523 |       
|                                                   
|                                                   
|                                                   
|                                                   
|Interest, capitalized                               |                     |                          | 9,907   |                   |         |                   | 15,239   |                   |         |   | 15,002 |         |        |   | 8,002  |       
|                                                   
|                                                   
|                                                   
|                                                   
|Amortization of debt discounts, premium and expense |                     |                          | 2,067   |                   |         |                   | 1,915    |                   |         |   | 1,183  |         |        |   | 982    |       
|                                                   
|                                                   
|                                                   
|                                                   
|Interest implicit in rentals                        |                     |                          | 1,386   |                   |         |                   | 456      |                   |         |   | 274    |         |        |   | 123    |       
|                                                    |                     |                          |         |                   |         |                   |          |                   |         |   |        |         |        |   |        |       
|                                                    |                     | Fixed charges as defined |         | $                 | 110,114 |                   |          | $                 | 108,061 |   |        | $       | 80,893 |   |        | $      | 49,630 | 
|                                                    |                     |                          |         |                   |         |                   |          |                   |         |   |        |         |        |   |        |       
|Ratio of Earnings to Fixed Charges                  |                     |                          |         |                   |         |                   |          |                   |         |   | 1.28   |         |        |   | 1.28   |       
|                                                    |                     |                          |         |                   |         |                   |          |                   |         |   |        |         |        |   |        |       
|Coverage Deficiency (8) (9)                         |                     | $                        | 77,910  |                   |         | $                 | 317,865  |                   |         |   |        |         |        |   |        |       
|                                                    |                     |                          |         |                   |         |                   |          |                   |         |   |        |         |        |   |        |       

[Additional columns below]

[Continued from above table, first column(s) repeated]

|                                                    |                     |                          |        |                   |        |   |        |        |        | 
|--------------------------------------------------- | ------------------- | ------------------------ | ------ | ----------------- | ------ | - | ------ | ------ | ------ | 
|                                                    |                     | Twelve Months            |        | Twelve Months    
|                                                    |                     | Ended                    |        | Ended            
|                                                    |                     | December 31, 1995        |        | December 31, 1994
|                                                    |                     |                          |        |                  
|(Dollars in Thousands)                              |                     |                          |        |                   |        |   |        |       
|EARNINGS AS DEFINED(1)(4)(5)                        |                     |                          |        |                   |        |   |        |       
|                                                   
|                                                   
|                                                   
|                                                   
|Pre-tax income (2)(6)(7)                            |                     | $                        | 13,163 |                   |        | $ | 6,696  |       
|                                                   
|                                                   
|                                                   
|                                                   
|Fixed charges(3)                                    |                     |                          | 24,748 |                   |        |   | 13,640 |       
|                                                    |                     |                          |        |                   |        |   |        |       
|                                                    | Earnings as defined |                          | $      | 37,911            |        |   | $      | 20,336 |       
|                                                    |                     |                          |        |                   |        |   |        |       
|FIXED CHARGES AS DEFINED(1)(4)(5)                   |                     |                          |        |                   |        |   |        |       
|                                                   
|                                                   
|                                                   
|                                                   
|Interest, expensed                                  |                     | $                        | 24,151 |                   |        | $ | 13,365 |       
|                                                   
|                                                   
|                                                   
|                                                   
|Interest, capitalized                               |                     |                          | 5,895  |                   |        |   | 2,089  |       
|                                                   
|                                                   
|                                                   
|                                                   
|Amortization of debt discounts, premium and expense |                     |                          | 520    |                   |        |   | 275    |       
|                                                   
|                                                   
|                                                   
|                                                   
|Interest implicit in rentals                        |                     |                          | 77     |                   |        |   |       |       
|                                                    |                     |                          |        |                   |        |   |        |       
|                                                    |                     | Fixed charges as defined |        | $                 | 30,643 |   |        | $      | 15,729 | 
|                                                    |                     |                          |        |                   |        |   |        |       
|Ratio of Earnings to Fixed Charges                  |                     |                          | 1.24   |                   |        |   | 1.29   |       
|                                                    |                     |                          |        |                   |        |   |        |       
|Coverage Deficiency (8) (9)                         |                     |                          |        |                   |        |   |        |       

| |     |                                                                                                                                                                                                                                                                                                                                                
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (1) | Earnings and fixed charges are defined and computed in accordance
	 with Item 503 of Regulation S-K.                                                                                                                                                                                                                                           
| | (2) | This amount represents the aggregate of (a) the pre-tax
	income from continuing operations of MCN Investment and its
	majority-owned subsidiaries, (b) MCN Investments share
	 of pre-tax income of its 50% owned companies, and (c) any
	income actually received from less than 50% owned companies.                                        
| | (3) | Fixed charges added to earnings are adjusted to exclude interest
	capitalized during the period.                                                                                                                                                                                                                                               
| | (4) | In June 1996, MCN completed the sale of The Genix Group, its
	 computer operations subsidiary. For purposes of calculating the
	Ratio of Earnings to Fixed Charges, it has been classified as a
	discontinued operation and therefore excluded from the ratio for
	all periods presented.                                                      
| | (5) | The E&P segment has been reclassified from discontinued
	operations to continuing operations as described in Note 6 to the
	 Consolidated Financial Statements included herein. Therefore,
	for purposes of calculating the Ratio of Earnings to Fixed
	Charges, E&P financial information is included in the ratio
	for all periods presented.
| | (6) | For the twelve-month period ended June 30, 1999, MCN
	Investment recorded several unusual charges, consisting of
	property write-downs, investment losses, restructuring charges
	and losses on sale of properties, totaling $354,081,000 pre-tax
	($230,152,000 net of taxes).                                                                
| | (7) | For the twelve-month period ended December 31, 1998, MCN
	Investment recorded several unusual charges, consisting of
	property write-downs, investment losses and restructuring
	charges, totaling $564,984,000 pre-tax ($367,239,000 net of
	taxes).                                                                                          
| | (8) | Earnings for the twelve-month period ended June 30, 1999,
	were not adequate to cover fixed charges. The amount of the
	coverage deficiency was $77,910,000. The Ratio of Earnings to Fix
	 Charges excluding unusual charges would have been 3.51.                                                                                            
| | (9) | Earnings for the twelve-month period ended December 31,
	1998, were not adequate to cover fixed charges. The amount of the
	 coverage deficiency was $317,865,000. The Ratio of Earnings to
	Fix Charges excluding unusual charges would have been 3.29.