So, the minister for climate change in the new Labor minority government is who, exactly? The official listing nominates Greg Combet, the Coalition would have us believe it is Christine Milne, and for a fleeting moment last week it seemed to have been Marius Kloppers.

But the person seeking to exercise the greatest influence over the climate debate in the first two weeks of the new government has been Martin Ferguson. No doubt the Minister for Energy and Resources (and Tourism) thinks this is as it should be, given the nature of his portfolio and his desire to do the best by both industries.

Ferguson, in an interview with The Australian Financial Review, gave his assent to an emissions trading scheme, pulled up the drawbridge, and fired a shot across the bow of banking types who would dare imperil the destiny of other economic sectors in the pursuit of an easy-traded dollar.