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.
6 mothers who ‘cherished time together’ among victims in avalanche near Lake Tahoe
Woman charged with animal abandonment after leaving dog tied at JetBlue counter at Las Vegas airport
Documents show Epstein received pitch for properties housing Pentagon, FBI tenants after 2008 conviction
Buttigieg, Newsom, AOC top three in new 2028 poll in key presidential primary state
College student dies in tragic ski accident at Wisconsin resort, marking second death within a month
Red state auditor’s report flags Democratic governor’s ‘concerning’ spending on ‘luxury’ expenditures
Trump’s NIH director isn’t the only official wearing multiple hats during the president’s second term
Apple iCloud accused of failing to stop ‘child porn’ in West Virginia lawsuit
Colbert Follows Up FCC ‘Equal Time’ Fiasco by Sitting Down with Liberal Senator Who’s Up for Re-election
Judge overstepped by ordering Mark Zaid’s security clearance restored: DOJ
Cambodian PM says Thai forces occupying disputed land despite Trump-brokered ceasefire
Chilling: 2 Different AIs Are Willing to Slaughter Every Person With Traditional Values to Avoid Offending a Single Trans Person – and It Gets Even Worse
Colbert Catastrophe: FEC Urged to Investigate After Host Lies About Censorship, Raising Millions for Crockett Opponent
Massie faces backlash over Epstein demand, critics suggest he should ‘seriously reconsider’ Congress
Senate hopeful with deep Dem ties has paid family over $350K from his campaign coffers“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.
