Just a day after proposals for an extension to renewable energy tax credits were rejected for the eight time, a bipartisan group of US Senators set out a new compromise bill designed to break the stalemate that has developed between Republicans and Democrats over new energy legislation.

Styling themselves as the "Gang of 10", the group set out a raft of proposals intended to address Democrat concerns over inadequate support for renewable energy and energy efficiency measures while appeasing Republicans who claim such initiatives will prove too expensive and that there should be a greater focus on tapping US oil reserves.

Read more about the Gang of 10 here.