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.
Ketanji Brown Jackson Called an ‘Embarrassment’ for Using Social Media Slang in Birthright Citizenship Opinion
Federal judge blocks blue state’s law prohibiting ICE agents from wearing masks on the job
China-Based Tech Mogul Who Funds US Communist Groups in Grand Jury Crosshairs: Report
Republican Party to host historic midterm convention in Dallas, Trump announces on Truth Social
Fox News Poll: Maine Senate race is tight, with concerns about both candidates
House backs Massie’s push to release taxpayer-funded sexual harassment settlement records
California couple says moving company doubled their price and is now holding belongings ‘for ransom’: report
USPS worker arrested after alleged mass shooting threat against Texas Pride event, FBI says
AfD wants to end German boycott on Russian energy, says failed Ukraine invasion shows Kremlin is no threat
Beloved Star, Outspoken Christian Kelsey Grammer Mulling Run for Office
JD Vance Explains How Leftist Motto Is ‘a Disgusting Butchering of the Nicene Creed’
Five countries in Latin America have elected pro-Trump governments since his election
Bar complaint accuses Biden-appointed district judge of dishonesty during DOJ tenure
Lawmakers press Eli Lilly for China drug trials tied to military-linked hospitals
Dems join Republicans to crush Tlaib’s war powers resolution in lopsided House vote“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.
