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.
Auto Journalist Swarmed by Cops After Flock Cameras Mistakenly Flag Car Theft: We ‘Live in a Surveillance State’
Dem Rep Tried to Bait Israeli Authorities Into Confrontation with Him – Israeli Ambassador Has One Big Question
Obama-appointed judge torches Trump admin in latest courtroom showdown, refers attorney for Bar review
Family shattered after 3-time deported illegal immigrant allegedly blew through stop sign, roiling House race
Judge bars Trump from using IRS immunity deal to evade investigation over past tax filings
Breaking: Trump Reinstates Naval Blockade on Iran in Strait of Hormuz as Attacks Ramp Up
USMC flags candidate in Hegseth’s district as ‘incongruent with Marine Corps standards’
Trump makes surprise pick to fill Graham’s Senate seat
Mick Jagger Says Musicians and Athletes Should Entertain Fans, Not ‘Lecture’ Them About Politics
WV town’s police department thrown into chaos by evidence room fiasco, but officials say no one was fired
Lindsey Graham left behind modest wealth despite decades in Washington’s elite circles
Charlie Kirk’s close friend calls for death penalty for convicted assassins
Sick Man-Child: Tim Walz Bringing National Guard Back from DC After Rubio Deports Child Rapist Walz Pardoned
More Arson? Investigators Sift Through Ashes at Landmark 173-Year-Old Church Searching for Clues
Conservative groups say Justice Kagan cannot be impartial in upcoming Supreme Court climate litigation“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.
