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.
Alex Murdaugh retrial could bring potential death penalty as AG says ‘all our legal options are on the table’
Fox News True Crime Newsletter: Nancy Guthrie sheriff, Alex Murdaugh’s win, Kouri Richins’ message
Outrage: Using Enormous Pipes Water Utility Didn’t Know About, AI Data Center Guzzled 30 Million Gallons of Water for Free
Texas Boom: GOP-Led State Brags America’s 5 Fastest-Growing Cities as People Flee Blue States
Unlikely bipartisan Senate duo seeks to permanently ban ex-lawmakers from lobbying
Georgia GOP gubernatorial hopeful vows to ‘ban DEI’ in state but his own nonprofit urged CEOs to invest in it
‘Brutally Painful’ – Jordan Peterson’s Real Condition Revealed by Wife – They Need Our Prayers
Murkowski vs Trump: Senator sides with Democrats on Iran after series of breaks with president
Bishop Barron slams ‘borderline communists’ Sanders, Mamdani ahead of Trump prayer event: ‘Economy that kills’
Faith leaders and administration officials join together for Rededicate 250: What to know
Trump DHS Announces 12 Straight Months of Zero Border Releases as Crossings Hit Historic Lows
Coast Guard releases new photos of sailboat seized in missing American’s Bahamas disappearance case
Auburn grad who just landed dream job allegedly shot and killed by boyfriend’s father in Alabama
Hero Principal Gives Credit Where It’s Due: ‘I Think God’s Hand Was on All of Us’
Airlines Seek Federal Bailouts Following Spirit Airlines Shutdown as Fuel Prices Rise“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.
