In a move that’s sure to restore a smidgen of Greta Thunberg’s childhood, German Chancellor Angela Merkel has finally hammered out a deal for Germany’s stalled exit from coal-fired power generation, after state leaders agreed to shut down the industry by 2038.
We would note that this falls outside the 12-year window of doom predicted by US climate expert Alexandria Ocasio-Cortez, but better late than never when environmental apocalypse is on the line.
Germany’s plan includes 40 billion euros ($44.6 billion) in compensation for impacted regions, according to Bloomberg. The country’s largest coal-fired power producer, RWE AG, will receive 2.6 billion euros according to an insider – sending the stock up 1.7% in mid-morning trade on Thursday. In eastern Germany, utility Lignite operators will receive 1.75 billion euros according to German Finance Minister Olaf Scholz.
Merkel has been in a tight spot on the issue, facing pressure from environmentalists and miners alike. Climate tops voter concerns, and Germany will already miss its 2020 targets under the Paris Agreement. On the other hand, the poorer states in the former Communist East, where the bulk of the mines are, fear a growing gap to the West. Her predicament feeds into a broader political challenge, with the Greens party and the far-right Alternative for Germany gaining support on both sides of the political spectrum to squeeze Germany’s traditional mainstream parties, including her Christian Democrats. The AfD has been particularly strong in the eastern mining states.
UnitedHealthcare Fires Employee Who Said She Was Sad Trump Assassin Failed: ‘Violence is Never Acceptable’
United Airlines Flight Reportedly Struck by a Drone at 3,000 Feet
Prosecutors drop reference to injured Secret Service agent in latest filing amid confusion over Trump assassination case
FBI reveals Brown University mass shooter began plotting massacre as early as 2022, blamed victims
Kohberger defense team says it is ‘appalled’ by former expert’s public comments about Idaho murders case
Rashida Tlaib slams anti-israel Arab group over handling of sexual harassment claims
‘Shark Tank’ star backs Trump’s White House ballroom plan amid security concerns: ‘It’s bipartisan’
Grand Jury Indicts 2 Suspects for Assault on Turning Point USA Journalist
DOJ Releases Mirror Selfie of WHCA Dinner Shooter Donning Red Tie, Weapons Arsenal Just Before Attack
Dems’ ‘No Kings’ rhetoric backfires as critics lambaste ‘confusing’ reaction to actual king
Repeat offender with dozens of prior charges arrested for burglarizing church in Soros-backed DA’s county
Animal Farm filmmakers push back on ‘anti-capitalist’ movie criticism
BREAKING: Supreme Court Rules 6-3 That Drawing Congressional Districts Based on Race is Unconstitutional
Two Jewish Londoners stabbed by attacker as mayor laments ‘series of shocking antisemitic attacks’
Scott Peterson’s defense loses bid to introduce witness testimony in long-running fight to overturn conviction“It was a long night — it lasted until 2 a.m. — but we were able to achieve a sensible agreement,” Armin Laschet, premier of the state of North-Rhine Westphalia, said in an interview with Deutschlandfunk radio. “The time frame that we’ve agreed on is ambitious, but realistic.” –Bloomberg (via Yahoo!)
According to Laschet, approximately 3,000 jobs will be lost to the closures, which will occur more quickly in west German states.
The biggest resistance to the plan comes from states in the former communist east, which heavily relies on coal and has a lower income per capita than in the west.
Under Thursday’s agreement, LEAG’s Jaenschwalde power plant will convert into a gas-fired unit to use some of that sweet, sweet, Russian gas thanks to Nordstream 2. The government will also pay to retrain workers affected by plant closures – possibly in coding.
Story cited here.
