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.
Gov Whitmer says America ‘ready for a woman president,’ contrasting Michelle Obama
Air Force One turns around shortly after takeoff for Trump’s trip to Switzerland
Lindsey Halligan leaves US attorney post after weeks of judicial scrutiny
Former Trump lawyer accuses federal judge of making ‘baseless accusations of lying’ after departure
Missouri couple accused of locking teens in chicken pen, shooting them with BB guns in abuse case
House passes AI education bill for small businesses in landslide 395-14 vote
Cities Church Issues Full-Throated Response to Invasion of their Sunday Worship Service by Leftist Agitators
Illegal immigrant allegedly ran from deadly wrong-way DUI crash that killed motorcyclist, records show
DHS says ICE agents rammed by vehicles amid Minneapolis enforcement surge: ‘Aggressively assaulted’
Ilhan Omar vows ‘not to give ICE a single cent’ in heated congressional funding fight
ALERT: Dem Rep Publicly Supports Assault on Christian Worship Service by Leftist Agitators
Pennsylvania county official seeks to evict of DHS and ICE over three years of unpaid rent
One Incredibly Simple Map Explains Why Greenland Is 100 Percent Vital to US Security
The Harris Campaign Probed Whether Tim Walz Was a Chinese Agent During VP Selection Process: Report
ICE: Minnesota won’t let us arrest 1,360 criminal illegal immigrants in state jails“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.
