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.
How Chinese EVs Coming from Canada May Impact US National Security
Scandal-Ridden Hospital to Open First US ‘Detransition’ Clinic in Historic Legal Settlement
‘Backyard brawl’ ignites as West Virginia’s Morrisey moves to poach blue state rival Spanberger’s jobs
Cassidy primary defeat is a ‘loss for the country,’ Romney says
Josh Shapiro tests political clout in Pennsylvania primary
Arkansas man allegedly threatened Walmart mass shooting over hantavirus lockdown fears, authorities say
Austin police arrest 2 juveniles allegedly linked to 12 random shootings injuring 4 people
Trump reads Bible as thousands pack National Mall for America 250 prayer rally
Attorney for man accused of throwing rock at endangered Hawaiian monk seal says client was protecting turtles
Faith and government leaders celebrate US as ‘One Nation Under God’ at Rededicate 250
Sean Spicer-linked group makes case for Trump to seniors before midterm elections
Two Navy jets crash midair as crew successfully ejects during Idaho military base air show
Blue State May Have Slipped Up While Defending Its Ammo Ban
Republican Lawmaker Crashes Woke Church’s Gun Buyback Scheme With Ingenious Play
Trump warns Iran’s ‘clock is ticking’: Move ‘fast’ or ‘there won’t be anything left’“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.
