Germany Approves Plan To End Coal As An Energy Source By 2038

(BERLIN) — German lawmakers have finalized the country’s long-awaited phase-out of coal as an energy source, backing a plan that environmental groups say isn’t ambitious enough and free marketeers criticize as a waste of taxpayers’ money. Bills approved by both houses of parliament Friday envision shutting down the last coal-fired power plant by 2038 and spending some 40 billion euros ($45 billion) to help affected regions cope with the transition. The plan is part of Germany’s ‘energy transition’ – an effort to wean Europe’s biggest economy off planet-warming fossil fuels and generate all of the country’s considerable energy needs from renewable sources.

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