2005News

Que se dice: To act in consequence

Today’s “Que se dice” or “What’s being said” column in Hoy newspaper leads off with the need to react to the new record crude oil price. The columnist says that the new prices should have the same effect as an earthquake on people living in the Dominican Republic, a net importer of petroleum and fossil fuels. But, up until now, the news has not deterred the government and many private citizens from unrestrained consumption levels. It is accepted that the nation is obliged to limit its use of crude oil and petroleum products that have gone up in price almost more than the productive activities can provide for. Nonetheless, we (the editorial “we”) have not seen any of the conservation practices that need to come from the supposed “conviction”. The shock of the higher oil prices is that the entire community will have to face it with something more than austerity in the energy sector, as it will also have to be very tightly controlled in other business or household activities. The negative impact of higher oil prices will have a growing impact on the exchange market. Therefore, moderation in all endeavors, including the use of hard currency is the only thing that might avoid severe increases across the Dominican economy.