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Just as the Republicans seemed to be gaining a head of steam in their efforts to overturn America’s decades-old crude export ban, the White House has announced it would veto any proposals.

Just as BP finally agrees to pay nearly $21 billion to settle claims relating to the disastrous Deepwater Horizon spill, the oil giant is proposing to drill four exploration wells in the Great Australian Bight, which threatens these pristine waters off the Southern coast of the country.

Oil giant BP will pay nearly $21 billion to settle its 5 year old dispute with US Federal and State authorities over the Deepwater Horizon oil spill, which killed eleven workers, and spilt millions of gallons of oil across the Gulf of Mexico.

The speech by Mark Carney, the Governor of the Bank of England, earlier this week about the risks of climate change and “stranded assets” has certainly stirred up the debate about global warming.

For years a growing number of voices – from activists, analysts and scientists - have been warning that we cannot afford to burn all the reserves of fossil fuels if we are going to keep global warming to 2 degrees. They argue that huge amounts of oil, coal and gas risk becoming “stranded assets”, which can never be burnt.

Twenty four hours after Shell’s seismic announcement that it was pulling out of the Arctic “for the foreseeable future” the announcement is still making waves.