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.
Mamdani Trashes USA on Eve of July 4th as Land of Inequality, Racial Bias
Fourth of July app guides spectators through nine-hour air show from NASA jets to B-1 bombers
Three dead, 7 rescued in boating tragedy as severe holiday weekend storm ravages Wisconsin tourist hot spot
Watch: Tokyo, Japan, Puts Blue States, Cities to Shame with July 4th Celebration
Trump grants pardons to ‘persecuted’ mechanics in right-to-repair crackdown: ‘I am setting them all free’
Police swarm Michigan shopping center after ‘significant’ shooting incident; at least 2 dead
US military deploys MTVRs, airlifts aid to Venezuela following deadly earthquakes
UPDATE: Strange Findings – DHS Investigators Release Report on Secret Service Failures at Butler Assassination Attempt
Op-Ed: Make Colombia Free Again, Bring Us Back to Our Judeo-Christian Roots
Who Should Be Held Accountable for Climate Alarmism?
Mamdani blasts ICE agents, Elon Musk and ‘supremacy’ in America 250 speech ahead of July 4 weekend
Trump DOJ Sues Gavin Newsom’s California Over Glock Ban
Where key Democrats stand on divisive Michigan Senate primary
Is AI the Remedy for Rural Healthcare?
Taylor Swift and Travis Kelce take over Madison Square Garden, shut down Midtown Manhattan“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.
