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.
Trump threatens to pull Boebert endorsement, calls congresswoman ‘weak minded’ over Massie support
Trump celebrates after UN climate committee moves away from its most extreme global warming scenario
Trump scores major Republican primary victory as Cassidy ousted in Louisiana
Maduro’s alleged ‘bag man’ Alex Saab arrested less than 3 years after Biden pardon: report
Massachusetts governor asks US Navy to help retrieve bodies, evidence from sunken fishing vessel
Trump shares stunning photos of Lincoln Memorial Reflecting Pool renovation, says project is ahead of schedule
Suspected drunk driver kills 2 pedestrians in violent chain-reaction crash on Manhattan’s Upper West Side
Breaking: US Makes ‘Intense Preparations’ for Impending Iran Attacks as Trump Sends Warning
US Attorney Pirro Lays Down Law: Parents Need to Stop ‘Teen Takeovers’ or Face Jail
We Were Right: 13 Heads Roll as DC Police’s Conspiracy to Deceive Public on Astronomical Crime Rates Exposed
Masked suspect charged with using fuel, fireworks in Walmart kids section as cover for massive jewelry heist
Former college soccer player killed in boat crash after group allegedly took vessel without authorization
Pope Leo does ‘6-7’ trend for children at the Vatican
Violent Repeat Offender Left Psych Ward Days Before Allegedly Shooting Up Busy Massachusetts Street
Second FDA executive departing organization in less than a week as top drug regulator claims she was fired“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.
