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.
Jack Smith dodges questions on Cassidy Hutchinson witness credibility
Paris Hilton teams up with AOC to push House to pass stalled AI deepfake porn bill
Top AZ county lawyer fired after dad accuses him of filming 12-year-old at store, performing sex act in car
Anti-abortion groups keep pressure on White House after March for Life olive branch
White House, DHS push back on claims ICE targeted 5-year-old in Minnesota, say child was ‘abandoned’
Zelenskyy blasts global inaction on Iran, claims Europe stuck in ‘Greenland mode’
Convicted Minnesota fraudster alleges Walz, Ellison were aware of widespread fraud
Glenn Beck Calls on Trump to Fire Pam Bondi After a Year on the Job, Cites Lack of Major Prosecutions
BREAKING: Minnesota Judge Refuses to Sign Criminal Complaint Charging Don Lemon for Storming Church
Newsom posts himself as ‘Sparkle Beach’ Ken Barbie doll in clap back at Bessent
It’s Gotten Worse: New MRC Study Shows Media Bias Against Trump Has Hit New High – More Than 9/10 at Times
AOC accuses Trump of engaging in ‘increasingly erratic’ behavior
Vance tells Minneapolis to ‘stop fighting’ ICE as White House doubles down on crackdown
BREAKING: Pam Bondi Announces Arrests of Anti-ICE Fanatics Who Stormed Minnesota Church
Phoenix gas station murder suspect had weapons charge tossed before fatal shooting, records show“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.
