Market Prices Send "the Right Signal to the Customer to Save Energy"
In the passage quoted below, the "commission" refers to China's "National Development and Reform Commission."
(p. A6) The commission estimates China's energy efficiency is about 10% below that of developed countries because of obsolete technology. But many experts say Beijing's policy priorities are a bigger obstacle.
Worries about social unrest and inflation led Beijing to put the brakes on pricing overhauls, at tremendous cost to state refiners PetroChina Co. and China Petroleum & Chemical Corp., known as Sinopec.
"Market prices are a very important and key issue because they send out the right signal to the customer to save energy," said Yang Fuqiang, vice president of the Energy Foundation in Beijing.
For the full story, see:
David Winning. "Why Energy Efficiencies Prove Elusive in China." Wall Street Journal (Tues., Nov. 6, 2007): A6.