A cap and trade bill will likely increase the costs of electricity. . . . These costs will be passed on to the consumers. But the issue is, how does it actually...how do we interact in terms with the rest of the world? If other countries don't impose a cost on carbon, then we would be at a disadvantage. . . . We should look at considering duties that would offset that cost.
Steven ChuSomehow we have to figure out how to boost the price of gasoline to the levels in Europe.
Steven ChuWhile we cannot accurately predict the course of climate change in the coming decades, the risks we run if we don't change our course are enormous. Prudent risk management does not equate uncertainty with inaction.
Steven ChuOccasionally, I would focus on a particular school project and become obsessed with, what seemed to my mother, to be trivial details instead of apportioning the time I spent on school work in a more efficient way.
Steven ChuIn the summer after kindergarten, a friend introduced me to the joys of building plastic model airplanes and warships. By the fourth grade, I graduated to an erector set and spent many happy hours constructing devices of unknown purpose where the main design criterion was to maximize the number of moving parts and overall size. The living room rug was frequently littered with hundreds of metal โgirdersโ and tiny nuts and bolts surrounding half-finished structures. An understanding mother allowed me to keep the projects going for days on end.
Steven ChuIf there is a regulation that says you have to do something-whether it be putting in seat belts, catalytic converters, clean air for coal plants, clean water-the first tack that the lawyers use, among others things, and that companies use, is that it's going to drive the electricity bill up, drive the cost of cars up, drive everything up. It repeatedly has been demonstrated that once the engineers start thinking about it, it's actually far less than the original estimates. We should remember that when we hear this again, because you will hear it again.
Steven Chu