DTE, business groups back ballot proposal to direct mining royalties to state parks

DTE Energy has joined a coalition of business, outdoor recreation and environmental advocates in supporting a proposal on the Nov. 3 ballot to ensure royalties from oil and gas exploration in Michigan go into the state’s trust fund for preserving natural resources.

The ballot proposal, combined with three new laws tied to its passage, would broaden the use of royalties that gas and oil mining companies pay the state for extracting minerals on state-owned land and earmark them for improving state recreational land and parks.

The proposed constitutional amendment would lift a $500 million cap on Michigan Natural Resources Trust Fund and create a $800 million cap for the Michigan State Parks Endowment Fund, which has about $300 million in funds earmarked for capital improvements at state parks.

Under the proposal, once the State Parks Endowment Fund is fully funded, all new royalties from gas and oil exploration on state-owned

Read More