Reporting by David Lawsky Editing by Bernard Orr Stocks Media

Precourt said in a statement he was concerned "we areimporting energy from insecure, unreliable sources who are, inmany cases, not friends of the United States." The UnitedStates imports 70 percent of the oil it consumes Part of the problem is economics. Taylor said thatalternative fuels would be more attractive if the "real priceof gas were included in our market, for example environmentaldamage, foreign policy implications (and) foreign wars." Stanford said it already spends $30 million annually onenergy research. The new institute will roll in the existingStanford Global Climate and Energy project, which works toreduce greenhouse gas emissions responsible for climatechange. Lynn Orr, a professor in energy resources engineering whoheads the existing project, will be in charge of the newinstitute. Orr said the institute will "work on the host ofsocial, market and policy issues involved in the neededtransition to energy systems with significant fractions ofrenewables."(Reporting by David Lawsky; Editing by Bernard Orr) Stocks Media. (Recasts, adds comments from panel, industry reaction) Stocks Regulatory News Bonds By Louise Egan OTTAWA, Jan 12 (Reuters) - Canada should push ahead withefforts to create a national securities regulator withoutnecessarily waiting for consent from provinces opposed to theidea, a government-commissioned panel recommended on Monday. The panel, created by Finance Minister Jim Flaherty inFebruary 2008, said the global financial crisis highlights theneed for a single Canadian regulator that can move with greaterspeed to address financial instability.

Canada is the only developed nation in the world that doesnot have an overarching regulatory body that oversees capitalmarkets. Instead, it has a patchwork system of 13 provincial andterritorial regulators that requires companies to filedocuments such as prospectuses and financial statements in eachjurisdiction separately. Provincial opposition, particularly from French-speakingQuebec, has traditionally hindered efforts to reform thesystem. "It's time to give investors a stronger voice with betterenforcement and quicker response.

It's time to create a commonsecurities regulator, applying one set of principles, one setof rules, one set of fees," the panel's chairman, Tom Hockin,told a business group in Vancouver after the report's release. Finance Minister Jim Flaherty took up the cause of a singleregulator when he started his job in 2006, arguing the currentsystem adds unfair costs to investors. COALITION OF THE WILLING The panel's report contained model legislation for thecreation of a national securities regulator with "willing"provinces, even if there is no unanimous agreement.The panel stressed that such a structure would be strictlytemporary. However, it suggests that if after an unspecified period oftime, a "sufficient" number of jurisdictions still do not joinin, that Ottawa could allow market participants to join thesingle national regime directly.

For example, a company operating in Quebec could choose tobe regulated by the national regulator even if Quebec is notparticipating in the regime and continues to regulate on aprovincial basis. Once a market participant has "opted in" to the nationalregulator, it would be able to undertake a prospectusdistribution in any province or territory. If some provinces are still holding out after a two-yeartransition period has passed following parliamentary passage ofthe new law, the panel recommends the federal government takeunilateral action to impose a new regime. The panel cited constitutional experts saying the federalgovernment has the constitutional authority to do so. The report was welcomed by several financial industrygroups, which see the current system as needlessly costly andinefficient "At least it's defined and it's feasible. It puts a littlediscipline into the process it won't just fizzle out intonothing," said Ian Russell, president and chief executive ofthe Investment Industry Association of Canada.