EXHIBIT 12-2

MCN INVESTMENT CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES


|                                                    |                          |          |          |              |   |              |          |              |   |              |        |              |  |   |        |        |  |   |        |        |  |   |        |        | 
|--------------------------------------------------- | ------------------------ | -------- | -------- | ------------ | - | ------------ | -------- | ------------ | - | ------------ | ------ | ------------ |  | - | ------ | ------ |  | - | ------ | ------ |  | - | ------ | ------ | 
|                                                    |                          | Twelve   |          | Twelve       |   | Twelve       |          | Twelve       |   | Twelve       |        | Twelve      
|                                                    |                          | Months   |          | Months       |   | Months       |          | Months       |   | Months       |        | Months      
|                                                    |                          | Ended    |          | Ended        |   | Ended        |          | Ended        |   | Ended        |        | Ended       
|                                                    |                          | June 30, |          | December 31, |   | December 31, |          | December 31, |   | December 31, |        | December 31,
|                                                    |                          | 1999     |          | 1998         |   | 1997         |          | 1996         |   | 1995         |        | 1994        
|                                                    |                          |          |          |              |   |              |          |              |   |              |        |             
|(Dollars in Thousands)                              |                          |          |          |              |   |              |          |              |   |              |        |              |  |   |        |        |  |   |        |        |  |   |        |       
|EARNINGS AS DEFINED(1)(4)(5)                        |                          |          |          |              |   |              |          |              |   |              |        |              |  |   |        |        |  |   |        |        |  |   |        |       
|                                                   
|                                                   
|                                                   
|                                                   
|Pre-tax income(2)(6)(7)                             |                          | $        | (427,544 | )            |   | $            | (611,638 | )            |   | $            | 37,929 |              |  | $ | 21,899 |        |  | $ | 13,163 |        |  | $ | 6,696  |       
|                                                   
|                                                   
|                                                   
|                                                   
|Fixed charges(3)                                    |                          |          | 99,169   |              |   |              | 92,822   |              |   |              | 65,891 |              |  |   | 41,628 |        |  |   | 24,748 |        |  |   | 13,640 |       
|                                                    |                          |          |          |              |   |              |          |              |   |              |        |              |  |   |        |        |  |   |        |        |  |   |        |       
|                                                    | Earnings as defined      |          | $        | (328,375     | ) |              | $        | (518,816     | ) |              | $      | 103,820      |  |   | $      | 63,527 |  |   | $      | 37,911 |  |   | $      | 20,336 | 
|                                                    |                          |          |          |              |   |              |          |              |   |              |        |              |  |   |        |        |  |   |        |        |  |   |        |       
|FIXED CHARGES AS DEFINED(1)(4)(5)                   |                          |          |          |              |   |              |          |              |   |              |        |              |  |   |        |        |  |   |        |        |  |   |        |       
|                                                   
|                                                   
|                                                   
|                                                   
|Interest, expensed                                  |                          | $        | 96,754   |              |   | $            | 90,451   |              |   | $            | 64,434 |              |  | $ | 40,523 |        |  | $ | 24,151 |        |  | $ | 13,365 |       
|                                                   
|                                                   
|                                                   
|                                                   
|Interest, capitalized                               |                          |          | 9,907    |              |   |              | 15,239   |              |   |              | 15,002 |              |  |   | 8,002  |        |  |   | 5,895  |        |  |   | 2,089  |       
|                                                   
|                                                   
|                                                   
|                                                   
|Amortization of debt discounts, premium and expense |                          |          | 2,067    |              |   |              | 1,915    |              |   |              | 1,183  |              |  |   | 982    |        |  |   | 520    |        |  |   | 275    |       
|                                                   
|                                                   
|                                                   
|                                                   
|Interest implicit in rentals                        |                          |          | 348      |              |   |              | 456      |              |   |              | 274    |              |  |   | 123    |        |  |   | 77     |        |  |   |       |       
|                                                    |                          |          |          |              |   |              |          |              |   |              |        |              |  |   |        |        |  |   |        |        |  |   |        |       
|                                                    | Fixed charges as defined |          | $        | 109,076      |   |              | $        | 108,061      |   |              | $      | 80,893       |  |   | $      | 49,630 |  |   | $      | 30,643 |  |   | $      | 15,729 | 
|                                                    |                          |          |          |              |   |              |          |              |   |              |        |              |  |   |        |        |  |   |        |        |  |   |        |       
|Ratio of Earnings to Fixed Charges                  |                          |          |          |              |   |              |          |              |   |              | 1.28   |              |  |   | 1.28   |        |  |   | 1.24   |        |  |   | 1.29   |       
|                                                    |                          |          |          |              |   |              |          |              |   |              |        |              |  |   |        |        |  |   |        |        |  |   |        |       
|Coverage Deficiency(8)(9)                           |                          | $        | 437,451  |              |   | $            | 626,877  |              |   |              |        |              |  |   |        |        |  |   |        |        |  |   |        |       
|                                                    |                          |          |          |              |   |              |          |              |   |              |        |              |  |   |        |        |  |   |        |        |  |   |        |       

| |     |                                                                                                                                                                                                                                                                                                                                               
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (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 $437,451,000. The amount of the coverage
	deficiency excluding unusual charges would have been $83,370,000.                                                                                   
| | (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 $626,877,000. The amount of the coverage
	 deficiency excluding unusual charges would have been
	$61,893,000.