Monitoring the windows clipboard

[toflat]

Hey there, newbie guy here again, with you guessed it, another newbie
question...

I have this shareware app that works with text files and has an
"Automatic paste" feature. When this feature is activated it
automatically pastes any text that is copied to the windows clipboard
to whatever file is active in the program. So it has a way of
monitoring the windows clipboard and pasting the contents to a new
line in the file whenever something new is added to the clipboard. It
seems to be pretty instantaneous (i get a little system 'beep').

Is there a way I can get Python to do the same thing? 

I want the script/program to monitor the clipboard and paste the
contents to a file whenever something new is copied (for my purposes
it would always be a URL from a browser).

Thanks!!
-t