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.
FAA investigates after incoming plane executes go-around due to aircraft leaving from intersecting runway
Responders put out explosive blaze at fireworks stand in Oklahoma
Obama Center visitors say project symbolic of ‘Black excellence,’ claim scandal-free legacy while Trump ripped
Trump administration probe could upend widely used transgender youth treatment guidelines
Chinese AI models raise ‘sleeper agent’ fears after report finds more vulnerable code for US users
Angel Dads face another Father’s Day without children killed by illegal immigrants: ‘She should be graduating’
Trump’s contracting controversies in the spotlight following no-bid Reflecting Pool deal
Can Ed Hale, a former Democrat, rebuild the Larry Hogan coalition in Maryland?
JD Vance arrives in Switzerland to join Kushner and Witkoff for new round of Iran negotiations
Trump says much of water in Reflecting Pool likely to be drained: ‘Necessary repairs’
Pope Leo sends unmistakable message on immigrants during visit honoring America’s first saint
Former Olympian among those charged with vandalizing Reflecting Pool; Trump says basin must be drained: report
Obama Presidential Center follows widely-mocked ‘stolen land’ acknowledgment with Native American dance show
Children among 6 wounded in Maryland mass shooting as detectives work to determine what occurred
Manhunt underway for Kansas City shooting spree suspect near World Cup venue; FBI offering $25K reward“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.
