If 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 ChuSomehow we have to figure out how to boost the price of gasoline to the levels in Europe.
Steven ChuSuppose you had a small electrical fire and... a structural engineer [looked] at your home's wiring [and] reports that the wiring is "shot" and there is a 50% chance that your house would burn down in the next few years unless you replace all the wiring. The job will cost $20,000... so you get an independent assessment. The next engineer agrees with the first warning. You can either continue to shop for additional evaluations until you find the one engineer in 1,000 that is willing to give you the answer you want, "Your family is not in danger" or you can change the wiring.
Steven ChuI approached the bulk of my schoolwork as a chore rather than an intellectual adventure. The tedium was relieved by a few courses that seem to be qualitatively different. Geometry was the first exciting course I remember. Instead of memorizing facts, we were asked to think in clear, logical steps. Beginning from a few intuitive postulates, far reaching consequences could be derived, and I took immediately to the sport of proving theorems.
Steven ChuAt Rochester, I came with the same emotions as many of the entering freshman: everything was new, exciting and a bit overwhelming, but at least nobody had heard of my brothers and cousins.
Steven ChuA 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 Chu