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In a letter to Robert Gates, US defence secretary, Canada said that it “would not want to see an expansive interpretation” of the Energy Independence and Security Act 2007. A copy of the letter, from Michael Wilson, Canadian ambassador, and copied to Condoleezza Rice, US secretary of state, and Samuel Bodman, US energy secretary, has been obtained by the Financial Times.

Section 526 of the law limits US government procurement of alternative fuels to those from which the lifecycle greenhouse gas emissions are equal to or less than those from conventional fuel from conventional petroleum sources. Canada’s oil sands are considered unconventional fuels, and producing them emits more greenhouse gas than conventional production.

The Bush administration has, nonetheless, encouraged developing oil sands, given the US’s favourable relationship with Canada and that it would reduce reliance on Middle East imports.

Amy Myers Jaffe, energy expert at Rice University, said cutting out the oil sands as a source of fuel would also limit global supplies further, forcing up the price of oil: “$106 a barrel is going to look cheap.”

The three presidential candidates hoping to replace President George W. Bush are proponents of strong US policy to counter greenhouse gas emissions, which could lead to a narrow interpretation of the law. That could be why Canada wants the law interpreted now.

“The Canadians do, in fact, have something to worry about, particularly from a Democratic administration,” Ms Jaffe said.

Environmentalists say extracting a barrel of crude from oil sands results in five times the amount of greenhouse gas emissions than extracting conventional crude – a figure some energy companies dispute.

Tristan Landry, spokesperson at the Canadian embassy in Washington, said: “Classifying fuel from the oil sands as non-conventional fuel … would unnecessarily complicate the integrated?Canada-US energy relationship.”

To be sure, the concentrations of these pharmaceuticals are tiny, measured in quantities of parts per billion or trillion, far below the levels of a medical dose. Also, utilities insist their water is safe.

But the presence of so many prescription drugs — and over-the-counter medicines like acetaminophen and ibuprofen — in so much of our drinking water is heightening worries among scientists of long-term consequences to human health.

In the course of a five-month inquiry, the AP discovered that drugs have been detected in the drinking water supplies of 24 major metropolitan areas — from Southern California to Northern New Jersey, from Detroit to Louisville, Ky.

Water providers rarely disclose results of pharmaceutical screenings, unless pressed, the AP found. For example, the head of a group representing major California suppliers said the public “doesn’t know how to interpret the information” and might be unduly alarmed.

How do the drugs get into the water?

People take pills. Their bodies absorb some of the medication, but the rest of it passes through and is flushed down the toilet. The wastewater is treated before it is discharged into reservoirs, rivers or lakes. Then, some of the water is cleansed again at drinking water treatment plants and piped to consumers. But most treatments do not remove all drug residue.

Nonetheless, as I have followed several of the homes that my wife and I were interested in a few years back, they are all on the market now. What is shocking, that in each and every case, I have been told by brokers and banks that the owners, have ceased paying their mortgages in some cases for nearly 2 years and have continued to occupy these homes. Now, these are homes in excess of $2,000,000 in the very best neighborhoods in South Florida. Brokers have added that these buyers further complicated things by putting huge home equity lines on top of their mortgages and now have no possibility of selling their homes for amounts needed to cover their accumulated debt.

This may not seem like news, but understand what this means: There is currently an 8-10 month wait to get a court date to have a foreclosure filing heard in Dade and Broward counties. The bankers have non-performing loans on their books to the best heeled borrowers in multi-million dollar amounts with no immediate means for recovery; with a non-secured second mortgage in place, there is no possibility for a “short sale” that will satisfy all of the borrower’s debt. They are reluctant to take a haircut knowing that they have the home equity debt still around their neck and are likely to frustrate any near-term sale.

There is no clean way to sell the home that would guarantee “clean title” hence a foreclosure is the only means to separate the property from the dead-beat speculator/squattor. Banks do not want to spend the $50,000 required to take a home through a foreclosure and clear the title — only to put the house back on the market for a deeper loss afterwards. Most likely, they have not revealed these owner occupied defaults to their shareholders, thanks to the sheer numbers of non-performing loans on their balance sheets, and the daunting task of foreclosing on all of them. This is the ultimate seizure and full stop of the market whereby everyone is standing in a stalemate. As one broker said to me, “these bums sitting in $3,000,000 homes overlooking the water are likely to be left alone by the banks for 2 years before the banks even get serious about foreclosure.”

For the first time at any airport, the biometric checks will apply to all domestic passengers leaving the terminal, which will handle all British Airways flights to and from Heathrow.

The controversial security measure is also set to be introduced at Gatwick, Manchester and Heathrow’s Terminal 1, and many airline industry insiders believe fingerprinting could become universal at all UK airports within a few years.

All four million domestic passengers who will pass through Terminal 5 annually after it opens on March 27 will have four fingerprints taken, as well as being photographed, when they check in.

To ensure the passenger boarding the aircraft is the same person, the fingerprinting process will be repeated just before they board the aircraft and the photograph will be compared with their face.

BAA, the company which owns Heathrow, insists the biometric information will be destroyed after 24 hours and will not be passed on to the police.

It says the move is necessary to prevent criminals, terrorists and illegal immigrants trying to bypass border controls.

…

Although fingerprinting is carried out at some foreign airports – most notably in the US – as part of immigration checks for international arrivals, Heathrow will be the first to fingerprint domestic passengers before they board their flights.

Even if domestic passengers have a passport with them, they will still have to go through the biometric checks.

Dr Gus Hosein, of the London School of Economics, an expert on the impact on technology on civil liberties, is one of the scheme’s strongest critics.

He said: “There is no other country in the world that requires passengers travelling on internal flights to be fingerprinted. BAA says the fingerprint data will be destroyed, but the records of who has travelled within the country will not be, and it will provide a rich source of data for the police and intelligence agencies.

“I grew up in a society where you only fingerprinted people if you suspected them of being criminals. By doing this they will make innocent people feel like criminals.

“There will also be a suspicion that this is the thin end of the wedge, that we are being softened up by making fingerprinting seem normal in the run-up to things like ID cards.”

Mr Hosein claimed automatic fingerprint technology is only 90 per cent accurate at best, and clear fingerprints can be difficult to obtain.

Simon Davies, of campaign group Privacy International, suggested a photograph alone would be a perfectly adequate – and much cheaper – way of identifying passengers.

…the fingerprinting of domestic passengers is expected to be the first step in the increasing use of the technology for people coming to and from Britain.

Within the next few weeks BAA will announce plans for voluntary fingerprinting under a so-called “trusted traveller” scheme.

Those willing to have their fingerprints and passport information stored would be able to bypass immigration queues by placing their finger on a scanner instead of waiting to have their passport checked.

The move follows a trial of the technology, known as “miSense”, at Heathrow last year.

JPMorgan, which sent a default notice to Thornburg Mortgage Inc. after the lender missed a $28 million margin call, said more default notices and margin calls were likely. The Carlyle Group’s mortgage fund also failed to meet $37 million in margin calls this week.

“A systemic credit crunch is underway, driven primarily by bank writedowns for subprime mortgages,” according to the report co-authored by analyst Christopher Flanagan. “We would characterize this situation as a systemic margin call.”

The credit crisis that began about a year ago will likely intensify after Friday’s weak February U.S. employment report “that most definitely signals recession,” JPMorgan said.

Indeed, corporate bond spreads widened to a new record on Friday, surpassing levels seen in October 2002 during a boom in bankruptcies following the dot-com crash. U.S. employers cut payrolls in February for a second consecutive month, slashing 63,000 jobs, the biggest monthly job decline in nearly five years, the U.S. Labor Department reported on Friday.

“The weak February employment report points to an economy in recession,” JPMorgan said.

The JPMorgan report included a revised bleaker forecast for subprime-related home prices. The bank now sees prices falling 30 percent, from its prior 25 percent forecast. Those prices have declined 14 percent since mid-2006, JPMorgan said.

Lawmakers included the anti-torture measure in a broader bill authorizing U.S. intelligence activities.

“Because the danger remains, we need to ensure our intelligence officials have all the tools they need to stop the terrorists,” Bush said in his weekly radio address. He added that the vetoed legislation “would diminish these vital tools.”

House of Representatives Speaker Nancy Pelosi of California said Democrats would try to overturn Bush’s veto and said U.S. moral authority was at stake.

“We will begin to reassert that moral authority by attempting to override the president’s veto next week,” Pelosi said.

Democratic Sen. Edward Kennedy of Massachusetts called Bush’s veto “one of the most shameful acts of his presidency.”

Think presented its investment relationship with GE in Geneva at the 78th International Motor Show, where it unveiled a new platform concept for larger electric vehicles: The crossover TH!NK Ox is an electric five-seat car close to the size of a sport utility vehicle but lighter and more aerodynamic. Also in Geneva, the company launched to the market the TH!NK City, a plug-in electric car with over 100 miles range.

GE announced its electric transportation investments at the Washington International Renewable Energy Conference. The commercial supply agreement with A123Systems provides Think with patented Nanophosphate™ lithium-ion batteries for the TH!NK City, now in production at the company’s factory in Norway. Think is delivering its first cars in Norway, with international sales to follow later in the year.

A123 is now drawing on the research and technology development expertise of GE Global Research in Niskayuna, New York. The joint research will support A123’s battery development, including batteries for Think’s vehicles.