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.
Rep Maxwell Frost allegedly assaulted at Sundance Film Festival in racially-charged incident
Frey, Klobuchar call for ICE to leave Minneapolis following deadly CBP shooting in city
Trump Resurrects Reagan-Era Pro-Life Policy, Punishes and Defunds Foreign Abortion Operations, Gender Madness
Trump to skip Super Bowl in California, criticizes performers Bad Bunny and Green Day
Alex Pretti, 37, identified as man fatally shot by Border Patrol agent in Minneapolis
Anti-ICE agitator allegedly bites off federal officer’s finger during Minneapolis attack
‘Loyal soldier’: A day on the trail with JD Vance, Trump’s ‘human Swiss Army Knife’
READ IT: Bondi sends letter to Gov Walz warning Minnesota’s immigration policies endanger agents
Ever Wonder Why Even Trump Can’t Get Criminal Dems Arrested? They’re Using the ‘Blue Slip’ Trick to Stay Out of Jail and It Has to End
Trump brags about secret weapon that was key to Maduro capture: ‘The discombobulator’
Trump cites armed suspect, lack of police support following fatal Border Patrol shooting in Minneapolis
Pritzker urges ‘unified response’ from Democrat, Republican governors after Border Patrol shoots armed man
Elizabeth Smart reveals her kidnapper tried to abduct her teen cousin as his ‘next wife’
Breaking: Armed Illegal Wanted for Assault Shot By Border Patrol in Minneapolis After Attacking Officer, Riots Follow
Chaos Erupts in Minneapolis as Leftists Riot in the Streets Over the Death of Armed Illegal Criminal Who Attacked Officer“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.
