the cost is essentially a zero and this doesn't include the fact we're generating electricity with that. the cost over the last six months in 2011 was about 22 gigawatts for all the water we delivered. just the water supply portion was about 230 gigawatts. 10 times as much energy produced. from an energy perspective, it is number-one. there are other things to consider. >> the state water has a similar offset? >> they do not have a similar offset. we just got to figuring out how much they generate and does that offset some of it? >> the next time we see these, i think it would be helpful to have a separate column that includes the offset because i think that their relative part of -- relevant part of the equation. i do need to see the map on the ground water thing. you may well be right on that but it would be surprising if the ground water project had the same energy consumption. >> it is basically the lift with negligible cost. we will show you all the details. >> is counterintuitive. i would appreciate it. >> it is an interesting criteria. i would be curious from the community intere

>> jeff immelt is the ceo of general electric and one of the country's most important business leaders. now he may have an even more important title, jobs czar. immelt, a republican, was recruited by president obama to help generate ideas about creating jobs. >> if you just looked at how many hours a day do republicans spend on job creation, do democrats spend on job creation, does the white house, it's nowhere close to 100%. we're not spending enough time on jobs. >> you know, the economists say that the recession's over. >> really? they should come to newton, iowa. [chuckles] >> and this is what they would see in newton, iowa: a maytag plant, where 2,500 people worked, now abandoned. this was the chrysler dealer, the chevy dealer, the tractor supply company. it helps explain why there is so much anger in the land. >> i'm sick and tired of people going to congress and washington, d.c., and making a living out of it while we starve to death. >> i believe we ought to make the tax cuts for the middle class permanent. >> we have now got both parties essentially telling a big lie, with a c

the fukushima daiichi accident basically put a lot of focus on the general electric mark one boiling water reactor. but we've known since one thousand nine hundred seventy two that these things were time bombs they were ready to you know basically fail and so on that almost took out detroit this is for me well that was actually fermi one which was not a mark one but a prototype breeder reactor but there is a fermi to a mark one there just outside of detroit but basically now the focus is on all these g.e. mark one and they have now folded in the mark two reactors because they have this vulnerable containment which now has been demonstrated at fukushima with a one hundred percent failure rate when faced with a severe accident all six one well the first the three operational reactors units one two and three they failed under these severe accident condition and they generated this hydrogen gas which then was vented into unit for an exploded and fortunately five and six were not involved yet but again we're concerned and in fact right now the united states nuclear regulatory commission a

with that, we have had less water to generate electricity. in particular, the key is between the second quarter of the third quarter is that there are about $11 million less. that is the order of magnitude which you are used to. the previous year, you have positive surprises. and so you have adequate reserves for that and it is still ending the year in the hech hechi fund. that is the case for all three of your enterprises. the other key news today would be the bond sale. the key take away their is that we have very aggressive bidding. i have the handout at your desk. with $702 million sold, we have an average bother -- borrowing rate of 7.2%. it is considerably less than what we had planned in the financial plan. it means we have been able to achieve and lock in place about $130 million that would average $1 a year over the next 31 years. the next page gives you a summary of all the bids. wells fargo was a very aggressive bidder. we had some smaller refunding to settlement reimbursement. very good news, something that would be very good. >>

jamie diamond can print this money without having to answer to any laws whatsoever washington general electric why shouldn't exxon why should these companies apple computer do the exact same thing of no is going to enforce the law what incentive is there for any of these corporations to abate the law there is no one because there's no justice department there's no leadership well that's a very good analogy to the tape worm because the tape worm lives inside you and you don't feel sick you don't feel ill nothing seems bad on the surface but underneath they're actually taking all the nutrients that you require to actually build over the long term to to live over the long term so with these tapes we're like the day we die when as i'm so eloquently demonstrate. you know the economy is becoming sicker and sicker and sicker until it just drops dead one day that's right walking on the streets of new york people are like oh i don't feel good oh i feel very sick i'm not sure what it is they've jamie taped warming they've got jamie tapeworm centrum their entire lives are being eaten out from inside by t

. >> they can generate electric from a virus. how, next. it's not often you hear something about a virus. >> tonight there is a look at a special virus that could add years to your life. >> abc 7 news reports add hours to live of your cell phone batteries. >> there is no battery. >> no. >> this little science experiment could be heralding big things still to come. by pressing down on this thin, rubbery film, professor lee is generating electricity. enough to power a small circuit. >> then, you can see that. there is number one. >> what is more remarkable is what this is made oof we use it. and this is knots as scary as it sounds. >> is this a virus i can get sick from? >> not at all. >> viruses cost nothing because they manufacture themselves just add water. >> and there is lee explaining they're long and skinny like pencils and if you drop a bunch of pencils in a dish and shake it they line themselves up. the viruses line up the same way, until someone puts pressure on them. causing them to scatter and creating a spark. there is a tiny spa

and larceny of turning a healthy economy into a cancer spread throughout the a corporate world general electric for example most of their money comes from jamie's tapeworm program so jeff. i like tapeworms so i dictate more. and this it goes on and on and on some of these corporations are basically mimicking because there's a lot of jamie dimon can print this money without having to answer to any laws whatsoever why shouldn't general electric why shouldn't exxon why should these companies apple computer do the exact same thing of no is going to enforce the law what incentive is there for any of these corporations to abate a law there is no one because there's no justice department there's no leadership so that's a very good analogy to the tape worm because the tape worm lives inside you and you don't feel sick you don't feel ill nothing seems bad on the surface but underneath they're actually taking all the nutrients that you require to actually build over the long term to to live over the long term so with these tape we're like the day we die when esme so eloquently demonstrate. you know the e

is it more important we are generating electricity or is there something else we need to be doing because there are solar projects to balance out? waste water folks are looking at how they capture rainwater and such. there are lots of things to work on. your feedback today is are we going in the right direction? >> yes. i think we are. with regard to methodology. >> i agree with that. we will have a chance at the august workshop to take it out for a spin and c l works. if we don't feel satisfied with that, we can change it. >> i have a couple of questions. the transfer of waters, did they go into storage? >> yes. we would not have to build new facilities. we would basically pick up the water at the dam and in wet years, the water with spill out and in dry years, it would augment our storage going into what could be a drought. that is where the value comes in. if the following two years, after we put the water into storage, we have let years, no harm, no foul. but there were too dry years, that's what we would need. >> my second question is the regional water program. don't those regional

in theory, they could generate a vast amounts of electricity. the challenges are formidable. the latest device is being put through its tests. >> i am at sea amongst the orca islands -- the orkney islands. every day, a mess of tidal current flows between the atlantic and the north sea. potentially, extraordinary power, which is why a range of tidal energy devices is being tested here. one of them is just below me here. i can show you in some underwater footage taken by a robotic vehicle how this thing works. it is a giant propeller that spins as the tide flows, generating electricity, which is sent on to the mainland. the plan is for 10 of these devices to be deployed. that should produce 10 megawatts of power. it will be one of the largest commercial tidal power installations when it is completed. to put this in perspective, you will need 1000 of these machines to match the kind of output you would get from a conventional oil, coal, or gas power station. operating in this harsh conditions is clearly a challenge. let me show you how they deployed in this one. they did it when

have found you can heat liquid salt and it retains its heat and you can use that at night to generate electricity, for example. but it's still imperfect. the other problem with solar power is that the strongest sources of it are in the desert. and there are no electric transmission lines there. so we have to build a new transmission grid to bright sunny places to carry that. if you turned uninhabited desert areas of the american southwest into giant solar arrays you could power most of north america with that but first you have to invest in the transmission lines to carry it to where it's needed, and the storage. but i believe that day will come. [inaudible question] >> why not that? exactly right. >> i want to thank you for energizing the discussion and being toso generallous with your answers. thank you. it really was great. >> every weekend, book tv offers 48 hours of programming focused on nonfiction authors and books. one-half it here on c-span2. >> for the next seven hours book tv is live from maryland. this is the third annual book festival held on the ground of the city hall. this is a qu

used to be in the old days that everybody had their own electricity generating plant. people would generate electricity locally for their own production means for their own factory. that got turned into a utility. the economics and study of that is very interesting. there's a fabulous book called "the big switch" which basically tracks that history. think of what clout is doing to computing is being analogous. instead of having to own and run your own software and hardware and computer systems, these things simply become services that you acquired by some horribly complicated plug. so it becomes viable economically -- the economics are compelling. you can consume by plugging in. you have to plug, yes, it is still the case that you know too much, but it is really that, that turning computation into a utility that can be consumed as opposed to requiring human to surround previous manifestations of the technology. >> i thank the panel for coming here today. we also thank our audience here for those listening and viewing. now, this meeting of the commonwealth club of calif

is this place general electric american bombs well how they get the money to make them and who's giving it and why to protect us from. these are all questions that somebody like obama should butt out. it just didn't happen. it was designed. and those bases just came along by you know some terrible cancer. when you see how much money is at stake in in the operations that go on every day it's phenomenal the number of flights to take off from kadena air force base every single day involved just that one base in that one country on one day one have been fault thousands of gallons of jet fuel. repair and maintenance and parts for those aircraft the rationale for these bases is that they're continually practicing and training and using the equipment and and running the personnel through their paces and and feeding them and and so on and that is an incredibly expensive operation this is what. president eisenhower was warning against in his farewell address in one thousand nine hundred sixty one where he invented the phrase military industrial complex meaning hidden power power that was not rea

he of course the ceo of general electric.ce where he says and i'm going to paraphrase seeing in his words very strong industrial outlook and still seeing, again in his words, great growth in china. how significant are those types of comments from a leader like him from that company? >> it's really important. they are the number one world's largest manufacturer of gas turbin turbines. so they are really in a sweet spot right here for lower gas prices. they're also the number two player in wind turbines. so they really have a lot to sell to china. and also they just did the deal with xd where they're going to be selling their transformers into the united states. so there's really nice synergies going on there with ge and its relationship with china. >> of your ten biggest holdings, and this will be my final question, intel is the only technology stock within that mix. are you still as confident as you were at the beginning of the year about this given what we just got from dell what we may get from hp and how apple continually

giant blades turning in the tide and generating electricity.ction of tidal power is that it is completely predictable. a massive current flows through these islands and the north sea and back again at up to 10 miles per hour every day. the trick is to harness all that power down beneath the waves. the only way to see the turbine is by remote control submarine. carrying a camera into the murky waters. down there, the vast machine spins gently. to slow to harm to fish, apparently, but fast enough to make of lectures city. they plan to install 10 devices next year. -- too slow to harm to fish, apparently, but fast enough to make electricity. >> at the time that the device has been on the seabed. it can perform with quite a lot of power output. we believe it will be credible and reliable. we have confidence we will build these in the future. >> dozens of possibilities are being tried out. it is too early to judge if any will work on an industrial scale. >> these are experimental machines. we have seen a big shift in recent times. we have seen indus

when the elevator is empty, the counterweight polls the elevator and it generates electricity by breaking. the same thing as in your toyota creosote or another hybrid car. -- prius or another hybrid car. here inside we have the ibtv drive. this is important for landing of the elevator. also, acceleration and deceleration, if there is instability in a car, can be reduced. >> so we have taken a ride in an antique elevator. >> this was an elevator built in 1913. >> we have checked out current elevator technology. >> these were installed in 1972, outside observation elevators. >> it is not standard because there is no tape that runs it. but shane we have seen the future of the elevator technology. >> i am going to push the access key which will access the voice. >> this has precise generation of power, which is important for highly acrilan the landing of the elevator. >> what happens next week and not know but it will be exciting. thank you for showing us this interesting technology. interesting technology. >> impossible. announcer: when you open a book, you can explore new lands... [bird scr

it's a giant propeler that spins as the tide flows, generating electricity sent by table on to the mainland. the plan is for 10 of these devices to be deployed that should produce 10 megawatts of power. it would be one of the largest commercial tidal power installations when it's complete. but to put this in perspective, you will need 1,000 of these machines to match the output you would get from a normal oil or coal or gas power station. operating in these harsh, turbulent conditions is a challenge. let me show you how they installed this. under flood lights at night when the currents were a little calmer. to plant these in regions like this. but people behind us believe it is vital for britain's energy future to harness the massive power here out at sea. >> david shipman on perhaps the future. >> now the pakistani government may be close to lifting the block aid. there's still angry opposition among some pakistanis. reporting now from the city of karachi. >> there are hundreds of oil tankers with fuel meant for nato forces in afghanistan sitting idol here. the drivers are desperate to get

they include chesapeake irrigation and lighting, sinai hospital, and general electric. there is also going to be a resume writing session and that's happening from 9:30 until 10:30 in the morning. >>> get yourself a free slurpee. it's happening at 7-eleven they are rolling out the lite local version. stop by the 7-eslefn tores from 11 in the morning until 7 p.m. and get one. if you can't get one today tell give them away free on 7- eleven's birthday which is 7- eleven. >>> she waited 70 years for her mr. right. >> this weekend a maryland woman will walk down the aisle for the first time. why she waited so long to say i do. sherrie. >>an and investigation reveals new information involving a dea agent in the secret service prostitution scandal. latest on the -- the latest on the scandal as the public hearing starts today. >> reporter: expects reduced adviceth across the region. -- visibility across the region. clear from hunt valley to 695. there is an accident on the beltway right on the outer loop at loch raven boulevard. as we look live at the west side, here at libert

locomotives we bought from general electric -- and so forth. i think people are really surprised by the amount of infrastructure. and i think that certainly on the level of crime, the statistics are terrible and unfortunately a lot of that is intercity as opposed to between south africans and people visiting. >> my sister in law was there within the last year and said it is a beautiful country with a very welcoming people. >> absolutely. and that is the story of world cup 2010. and the biggest chunk of visitors came from the usa, and they were pleasantly surprised. >> the relationship between south africa and the united states. is it good, healthy, progressing? >> i think it is at the level where it should be. it is favorable enough for us to be seen as a friend of the u.s.a., but it is critical enough for us not to be seen as a client of the usa i think that that is a really important balance, that we enter into negotiation with the usa on any given matters -- the current one, sanctions on iran. we had our perspective, but at the end of the da

. >>> also, jack welch, legendary former ceo of general electric and his wife susie weigh in on the presidentiallus, a preview of tonight's auction of the painting "the scream" expected to fetch $200 million. and a fascinating look at the life of britain's queen mother. we'll talk with the author of a new book. >>> and that's the "cbs morning news" for this wednesday. thanks for watching. i'm michelle miller. have a great day. ler. have a great day. ,,,, >> amassed man hurling bricks into the crowd from a rooftop.

this inhospitable environment we're talking about where they are paying incredibly high taxes, general electric doesn't pay the corporate tax rate and small businesses are paying a higher tax rate than ge. google and apple. >> dave: they have the lawyers and lobbyists -- >> not only washington. >> dave: the heart of the economy. they are the ones who will be hit when the top tier tax increase goes down. right? >> exactly. >> they will be. a lot of small businesses pay at the individual income tax rate. but i think rick's numbers, that he cites, just about every week, need to be addressed. implicit there is to the same people at the top, every year and the same people at the -- are at the bottom. and be in truth, mark zucker berg is about to make $20 million in an ipo and ten years ago he was in high school, so to assume -- >> a great point. >> income in equality, that is beautiful and means enterprise is being rewarded and in the u.s. the people at the top are an ever changing team picture. >> dave: and rick unger that is a beauty of the american system, whether democrat or republican who is in