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.
Campaign Blunder Causes Ad for Key Senate Race to Air in the Wrong State on the Opposite End of the Country
Breaking: DOJ Subpoenas Ilhan Omar’s Sister, Other Family Over Evidence of Fraudulent Immigration Paperwork
Pentagon pushes hypersonic weapons production as startups slash costs
Bill Allowing Victims to Sue Judges, Others Who Let Illegals Run Wild Is Quietly Advancing in Congress
‘Bonnie and Clyde’ illegal immigrant couple accused of brazen jewelry theft spree across four states
Democratic Senator Accused of Violating Federal Law with Anti-White X Post
Dem candidate’s bizarre anti-MAGA tirade ends with ‘we have guns too’
UK warns Iran is targeting ‘military sites’ as US and allies recognize growing threat of IRGC ‘hybrid activities’
Coast Guard firefight puts US, Mexico at odds despite coordinated border operations
Judge extends ban on tree removals at East Potomac Golf Links for two weeks
Young South Dakota deputy dies three days after being shot during a confrontation at a home
Lawyers for Charlie Kirk’s accused assassin Tyler Robinson want cameras banned after report on taxpayer burden
Watch: Katie Zacharia Begins Her First White House Press Briefing with a Message to Trump
GOP cuts bait on vulnerable Iowa representative one week after Johnson’s visit
Trump Speaks Out on Ilhan Omar Raid: ‘I Have Nothing to Do with It’“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.
