05 REVIEW & ANALYSIS

No rebound of fossil fuel subsidies


In apartment buildings, there shines a light,

On the stove, gas is burning bright.

People enjoy a modern living situation,

Paying fees without much complication.

Many benefit from cross-subsidization,

But at the cost of energy conservation.

Higher energy prices are starting to show,

As demand continues to grow.

Phasing out fossil fuel subsides is a hard task,

Reform needs to plot out a new path.