Meet Steven Chu, the Nobel Prize-winning physicist who currently heads Lawrence Berkeley National Laboratory — and who has been tapped to be Obama’s next Secretary of Energy.
And who do we have looking after the environmental brief on this side of the border? Oh yeah, Jim Prentice. Woo-hoo!
Regarding the title of the post, it relates to an anecdote Chu is quite fond of retailing in his lectures. A number of years ago the state of California set about establishing America’s first refrigerator-efficiency standards. Refrigerator manufacturers, of course, fought them. The standards couldn’t be met, they said, at anything like a price consumers could afford. California imposed the standards anyway, and then what happened, as Chu observed, is that “the manufacturers had to assign the job to the engineers, instead of to the lobbyists.”
The following decade, standards were imposed for refrigerators nationwide. Since then, the size of the average American refrigerator has increased by more than ten per cent, while the price, in inflation-adjusted dollars, has been cut in half. Meanwhile, energy use has dropped by two-thirds.
There’s a message in that tale for the automakers, of course, as well as for those who blindly contend that regulation is inimical to market imperatives.




