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.
WATCH: GOP senator warns ‘hammer-and-sickle’ politics will define Democrats’ 2028 primary
Appeals Court Blocks Part of ‘Stop WOKE Act’ in Florida, Allows Professors to Openly Teach Racism Against Whites
Trump’s EPA chief pushes back on climate skeptics being labeled ‘science deniers’
Graham Platner Officially Goes Out How You’d Expect: ‘Free Palestine,’ Vulgar Message for ICE, No Accountability or Seriousness
The new ‘Supergirl’ is a cheerless comic book movie
The World Cup comes to America: Passion, resilience, and the politics of hosting
Former top cop warns of loophole exploited by illicit Chinese vape companies ‘targeting our youth’
America’s cheapest city to grab a cheeseburger, fries and soda isn’t where you’d expect
Why do progressives forgive failed government?
Trump warns US would ‘decimate and destroy’ Iran over assassination attempt
California men accused of $100K burglary allegedly took selfies while committing crime
Prosecutors seeking death penalty for deported illegal alien indicted in murder of sister-in-law
New Jersey woman accused of sexually assaulting child, posting video on Snapchat: police
Former Obama press aide accused of stealing cash, credit cards, from Minneapolis coworkers to buy kratom
Kelley Paul: America’s Founders were the ‘first civil rights heroes’“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.
