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.
US Catholic bishops president says deportations instilling ‘fear’ in ‘widespread manner’: ‘Concerns us all’
Mock funeral held for the penny at Lincoln Memorial as 230-year coin production ends
DHS responds after reports CISA chief allegedly failed polygraph for classified intel access
Former classmate says suspect in Brown, MIT killings was ‘socially awkward’ and ‘angry’ during college years
DOJ restores Trump photo to Epstein files after determining no victims depicted
Man rushed to hospital in apparent self-inflicted shooting at Atlanta airport
Trump’s team reports concrete progress in Ukraine peace negotiations with European partners
Byron Donalds urges conservatives to ‘focus on the mission’ at AmericaFest after 2025 setbacks
Yale professor’s father charged in mother’s decades-old murder, says he ‘used me as bait’: report
Brown Recluse Spider Bite Leaves Woman Virtually Paralyzed: ‘I Couldn’t Feed Myself’
Vance says ‘America First’ movement rejects ‘purity tests,’ welcomes critical thinkers
Fetterman Rips Into Fellow Democrats After Anti-Semitic Australia Shooting: ‘A Rot Within the American Left’
Illegal Sentenced to 20 Years in Prison for Strangling ICE Agent
US Coast Guard pursues third ‘dark fleet’ oil tanker as Trump targets Venezuelan sanctions evasion network
42 Years Later, DNA Evidence Solves Case of 5 Texans Kidnapped from a KFC Restaurant and Executed After Robbery“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.
