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.
Many RNC Convention Attendees Balked at Trump’s Plan to Cut $5K Checks for Americans
Tucker Carlson Defends El-Sayed on 9/11, Condemns His GOP Opponent Mike Rogers
Smithsonian’s dark take on America exposed: Washington dubbed ‘town destroyer,’ Revolutionary War ‘dangerous’
Alito, Thomas shred ‘Hail Mary’ challenge to federal ballot mail rules in dissent
Surrogate who refused abortion asks SCOTUS to intervene as baby could be moved out of Texas
Georgia mayor, 23, ousted 10 months after making history as state’s youngest mayor
Republicans Attack GOP Candidate for Pointing Out How Many Foreign Students Attended Texas-Ohio State Game
Breaking: SCOTUS Blocks Trump’s Mail-in Ballot Restrictions Months Before Midterms
‘Trojan horses’ in America: Congress probes influence networks tied to China, Iran and Cuba
House Dems face Trump tariff dilemma as major Russia sanctions bill heads to floor
Supreme Court rejects Trump bid to revive strict mail-ballot rules before midterms
Trump Gives Huge Update on Russia-Ukraine War That Could Ease Pain at the Gas Pumps
Mamdani blasts feds for waging ‘campaign of violence and terror’ against NYC’s immigrants
House unanimously votes to eliminate 1-cent coin permanently
GOP Gov. Candidate Forced to Swim for His Life After Plane Crash – Reporter Says Water Was ‘Only 30 Feet’ Deep“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.
