3... Be7!? encourages White to choose a Bf4 set-up instead of Bg5.
Steve began by saying a few words about the pawn structure of the Exchange Variation. He noted that superficially it appears that Black is helped by the exchange of central pawns because the light-squared Bishop is liberated and the tension in the center is resolved without any immediate gain for White. But, long-term, White has the minority attack once Black plays ...c6 (which is almost inevitable). The minority attack (with b2-b4-b5xc6) can leave Black with a crippled pawn at c6 or an isolated pawn at d5. So no matter how you slice it, Black is going to get a bad endgame.
So what can be done? One option is to play an early ...a5 to trade White's pawn after a3 and b4, Pa5xb5 Pa3xb4 and then play the ugly looking ...b5!? but only if he can play Nd7-b6-c4 or Nf6-e8-d6-c4. Of course, the timing is everything in this line. Black can also play for his own minority attack after White's e3 advance by playing f7-f5-f4xe3 with similar advantageous possibilities to White's minority attack on the other side. But this is the type of game that goes on and on. It is a lifetime study. Unlike the Colle, where White has just one plan and Black can easily nullify it, in the Exchange White has plans upon plans, Black has counter-plans, and White has counter-counter plans, and it goes on and on.
Where do the pieces go? For White, typically (for the Minority Attack) Nf3, Nc3, Bg5 (or Bf4 but g5 is better), Rb1 (to support b2-b4-b5), Qc2, Bd3, O-O, and Rc1. For Black, things are more limited and that's part of the advantage that White has. Black plays Nf6, Be7, O-O, maybe Re8, Qd8, Ra8 (until you know where to put it), Nbd7 (possibly redeploying to 8). Let's see how this plays out in practice.
In a previous lecture we looked at the Semi-Tarrasch with 4... Nxd5 5. e4 Nxc3 6. bxc3 which has practically disappeared from GM play due to work by Spassky, Tal, and Geller. It is not recommended.
6. Qc2!? generally amounts to the same thing.
6... c6
Defending the d-pawn directly and b-pawn indirectly because Black will be able to play Qc7 or Qb6. 6... Bf5? 7. Qb3 hitting the b- and d- pawns and picking up material.(7. Bxf6 Bxf6 8. Qb3)
7. Qc2!
7. Bd3?! Ne4!? 8. Bf4 Bf5 9. f3?! Nxc3 10. bxc3 Bxd3 11. Qxd3
7...
We can see the "threat" in Qc2 after 7... Ne4?? 8. Bxe7 Qxe7 9. Nxd5+-
8... h6?! such weakening kingside moves invite White to switch gears and play for direct attack on the kingside by O-O-O, h4, and g4-g5.
9. Nf3
9. Nge2!? keeps open the possibility of O-O-O and storming the king or playing for f3 and e4 in the center.
with the plan of Bg4-h4-g6 nullifying the White Bishop--if he gives us the time. 10... h6!? might be safe after O-O by White
11. Bxf6
The Reshevsky Variation, which eliminates the possibility of Ne4 and speeds the development of the minority attack. There are several alternatives:
a) 11. Rab1 Minority
Attack main line 11... a5 Black can also
gain a move by waiting for Pb4 and playing ...Pa6 with the same inevitable
exchange of pawns and slowing of White's attack. 12. a3 Ng6!? with
the idea of ...Ne4 and White has no Bf4(12... Ne4 13. Bf4! is
the main problem with Black's advance.(13. Nxe4 dxe4-+)
(13. Bxe4 Bxg5 14. Nxg5 Qxg5=)
(13. Bxe7 Qxe7 14. b4 axb4 15. axb4 Bf5!? (15... b5?! 16. Bxe4 dxe4 17. Ne5 
)
)
13... Bd6?! (13... f5 14. Ne5)
14. Nxe4!? Bxf4 15. exf4 dxe4 16. Bxe4 
)
13. b4 axb4 14. axb4 Ne4 15. Bxe7 Qxe7 16. Rfc1 Bg4 and
Black is getting some activity on the kingside 17. Bxe4 (17. Nd2? played
by Taimanov-Nezh 17... Nxd2 (17... Nxf2! is
also very strong)
18. Qxd2 Nh4! 19. Bf1 Qg5 20. f4!? (20. Kh1? Bf3!! 21. gxf3 Nxf3-+)
20... Qg6!? (20... Qe7)
21. Bd3 Bf5 (21... Nf3+!? 22. gxf3 Bf5+ 
)
22. Bxf5 Nxf5
)
17... dxe4 18. Nd2 with
the idea of Nf1 or Nxe4 and Na4, b5, etc. But Black can attack the king,
perhaps with Rd8-d5-h5!? 18... f5 (18... Bf5 19. b5)
b) 11. Rae1 Botvinnik Variation, where the plan is Ne5 followed by f4!? or f3 and e4 with strong central control. Botvinnik had great success with this type of plan -- witness Botvinnik-Capablanca, Avro 1938. It is discussed by Angus Dunnington in "Attacking with 1.d4."
c) 11. h3 Karpov Variation, which is very nuanced and basically a very high-class waiting move, waiting for Black to commit himself so that White can make a suitable counter-plan. Yermolinsky does a good job of covering this in his Road to Chess Improvement.
speeding up the minority attack by foregoing Rb1. But if you give Black time he might play Qd6, Bd8-c7, and Bg4 and possibly f7-f5-f4 with real attacking chances.
12... Qd6!N
12... Bg4 13. Nd2 Rc8 14. Bf5! Bxf5 15. Qxf5 Be7 Euwe-Guimard(15... Ne6 Reshevsky) 16. Rab1 a6 17. a4 Bd6 18. Rb3 Re6 19. Rfb1 Rf6 20. Qd3 Rh6 21. f4 g5
13. b5!?
13... Bg4!
13... c5!? 14. dxc5 Qxc5 15. Ne4 Qe7 16. Nxf6+ Qxf6 17. Nd4 Be6 18. Rac1 is unclear.
14. bxc6 bxc6 15. Nd2 Bd8 16. Rfc1 Bc7 17. Nf1 and the position is complicated but favorable for Black.
1/2-1/2
[Stoyko and Goeller]
