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.
Ken Paxton makes closing pitch to anxious Republicans — and even some opponents
Trump to end all military funding to Israel by end of the year: ‘They don’t need it’
Widespread ‘Ballot Scanning Issues’ Reported in Competitive New York House District
Widespread ‘Ballot Scanning Issues’ Reported in Competitive New York House District
Pundit predictions for 2026 elections: Who will win?
‘Should Have Killed You While I Had the Chance’ – Leftist Student’s Lightning Attack Sends Conservative Woman Flying
‘Should Have Killed You While I Had the Chance’ – Leftist Student’s Lightning Attack Sends Conservative Woman Flying
Talarico warms to Trump, says he wants to help fulfill some MAGA promises
Alaska voter ‘disgusted’ by reported ‘decoy Dan’ plot switches from Peltola to Sullivan
Democrats’ Dismal Approval Numbers Could Help GOP Hold House and Senate: NBC News
Stevens Shares Devastating Election Eve Piece On Why She Disowned El-Sayed, Democratic Party: ‘How Will He Represent an Entire State?’
Florida polling places in 7 counties are moving locations due to flooding
Federal judge tosses Trump admin Harvard admissions lawsuit, leaves door open to future challenge
What’s at stake on Election Day in the battle for Congress and more top headlines
MICHAEL RUIZ: Idaho college massacre survivor says family moved 9 times as strangers followed them“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.
