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.
Pentagon files reveal agents’ reports of ‘orbs launching orbs’ near sensitive US security site
FBI disrupts alleged explosive-drone plot targeting White House UFC event, officials say
Multiple Sources Confirm GOP Senator Attempted IVF Expansion During NDAA Talks
Trump Comes Out Against FISA ‘If it Doesn’t Come with the Save America Act,’ Complicating Congressional Showdown
Is AI Making Us Dumb?
Trump admin puts alleged ‘birth tourism’ scheme on notice as expert delivers warning to hospitals
Teen accused of killing stepsister on Carnival cruise ship ordered detained before murder trial
Robert De Niro Says He Can’t Love America While ‘Xenophobic Tyrant’ Trump is President
Breaking: Gavin Newsom and His Wife Are Reportedly Under DOJ Investigation
ESPN’s Stephen A. Smith Calls Trump an ‘Upgrade’ Over Biden – Days After Blaming Him for an NBA Loss
Three more alleged antifa cell members indicted on terrorism charges over Texas ICE attack
Shots Fired as Fleeing Suspect Strikes ICE Agent with Vehicle – Manhunt Underway
ALERT: Massive B-52 Stratofortress Has Crashed at Edwards Air Force Base – Video
Judge dismisses xAI lawsuit accusing OpenAI of stealing trade secrets
Live explosive device found near Homeland Security office in Cleveland, forcing mass evacuations“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.
