JIS News

Chief Executive Officer (CEO) of the Consumer Affairs Commission (CAC), Dolsie Allen, is urging consumers to adjust their lifestyle, including implementing conservation measures, in light of forecasts of a hike in oil prices this year.
Analysts from JPMorgan Chase, Bank of America Merrill Lynch, among others, are projecting that oil prices could surpass the US$100 per barrel mark in 2011. They attribute the development to, among other things, the weakening of the United States dollar as central bankers pump cash to help accelerate economic growth; increased demand for oil in emerging markets such as China; and a reduction in the stockpile of crude oil.
“Jamaicans will need to prepare,” Mrs. Allen told JIS News. She noted that the predicted price increase would affect all aspects of the local economy, including transportation, food and manufacturing. “It will be a time for penny-pinching,” she added.
Mrs. Allen said now would be a good time to get the whole family involved in the conservation process. “Get the children involved as energy monitors ensure that lights (and appliances) are turned off when they are not in use.”
She further advised motorists to carpool as much as possible and plan routes to save on gas. “Taking the bus to work might not be such a bad idea,” she pointed out.
As it relates to meal preparation, the CAC CEO is encouraging consumers to cook enough to serve for a few meals and to prepare one pot dishes, which are very nutritious and cost effective. “Open the refrigerator once, taking out all that is needed for the meal, because opening it often burns more electricity,” she noted.