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.
Alarming fraud trend puts small-town mosque with industry and foreign govt ties in focus: ‘Our motherland now’
Leavitt says Trump is defying midterm headwinds as he barnstorms country
Florida A&M University shooting leaves 12 injured, including 6 children, near football stadium
Op-Ed: Stalin Believed in Predestination – Just Not the Calvinist Kind
Obama makes the case for el Sayed and a Democratic Party that can disagree
Constitutional Attorney: If We’re Not Careful, the US Could End Up Like France
Ukraine’s Starlink restored as Elon Musk claims Kyiv violated terms of service ‘to kill people’
Breaking: ‘Explosion’ at Quaker Oats Factory Rocks Midwest City as Large Smoke Cloud Looms
Obama compares Trump’s White House renovations to ‘Saddam Hussein opening a Cheesecake Factory’ at Ohio rally
Trump’s go-to Michigan auto worker gets a job and the spotlight
Felon Accused of Shooting National Guardsman Slapped With Federal Charges
Hegseth Quietly Meets Netanyahu as Trump Weighs Massive New Iran Offensive
This Isn’t Want Dems Had in Mind: Cali’s Wealth Tax Plan Handed Billionaire Zuckerberg a Massive Pay Increase
Did He Forget About 9/11? Muslim Brotherhood-Connected El-Sayed Said US Was ‘A Lot More Safe’ Under INS
Second Amendment fight moves beyond guns with Supreme Court poised for big ruling“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.
