‘Only Electric Cars Allowed’: Joe Issa Mulls Value of Petrol, Diesel Cars Ahead of 2040 UK Ban

Ocho Rios businessman Joe Issa chews on results of a survey which shows that some British motorists are already expressing concern about the value of their gas and diesel cars ahead of the proposed ban in 2040.

“I think it’s too far away to put a figure on the anticipated percentage reduction in gas and diesel cars when the ban comes into effect in 2040.

“If it is that UK motorists will not be able to buy a new fuel-driven car from 2040 onwards, nor will they be able to import new or used petrol cars from other countries, then I expect them to either ditch their cars ahead of the ban or keep them for as long as possible, especially if the new electric cars cost much more relative to the petrols cars.

“In any case, used cars will normally be expected to become cheaper for both UK and foreign buyers like Jamaicans, due to the anticipated relative increase in supply as motorists ditch them for new electric cars.

“As to how long before or after the ban UK motorists will sell their used cars, I expect them to give consideration to the local annual rate of depreciation and bank financing requirements, such as maximum eligible age of vehicle, which largely determines car imports by dealerships in Jamaica and other countries.

“We can stretch the analysis even further and argur that with the expected increase in the supply of used UK cars, and thus price, this could reduce the demand for Japanese imports and thus price.

“I also expect that about three years after the ban, when all existing used petrol cars in the UK will be too old to be sold abroad as a viable option for, say, Jamaican dealerships, we will see a correction in the price of Japanese used cars. So the window of opportunity is really a short term one,” said Issa, who is a former student of the famous London School of Economics (LSE) in the UK.

Issa was commenting on a survey of over 18,000 British motorists which shows that a fifth of them were concerned that their car will lose value ahead of the government’s proposed ban on the sale of new petrol and diesel cars by 2040.

According to the AA Cars survey which was reported by PA Motoring, 21 per cent of UK motorists fear that their current petrol or diesel car will be worth less because of the forthcoming ban.

The Cars poll also found that diminished car values was a greater concern than environmental impact, with just nine per cent of participants claiming they were worried about the green credentials of their current vehicle.

The article said “on the flipside, though, 17 per cent of drivers did suggest they had become more aware of the environmental concerns surrounding vehicles powered by fossil fuels.

“As the 2040 ban is still quite some way off, 67 per cent of participants believed that it was unlikely to affect their choice of car for at least the next few years. However, 10 per cent claimed to be less inclined to buy a diesel or petrol car as their next vehicle.”

Director of motoring services at AA Cars Simon Benson is quoted as saying: “An ongoing stream of negative press and blanket legislation around diesel and petrol vehicles has made UK drivers rather jumpy when it comes to buying new cars.

“This is laid bare in the October SMMT figures, which saw a double-digit drop off in new car registrations – with diesels, in particular, noting a 30 per cent decline.

“This research lends some insight into why consumer confidence is dwindling. With inflation creeping northwards and Brexit uncertainty weighing on consumer purse-strings, British drivers are increasingly concerned that buying a new car isn’t the investment it once was.

“2040 might be a long way in the future, but the ban on sales of petrols and diesels helps add to the picture that the days of emitting vehicles are numbered. More needs to be done to improve the picture of cleaner diesel models – or we risk talking the new car market into deeper trouble.”

 

Thanks to Focus on Reforms Jamaica’s Readiness for Upswing in Economic Growth Timely, Consistent with Poverty Alleviation Strategy – Joe Issa

Founder of Cool Corporation Joe Issa has said that the prime minister’s focus on implementing reforms in earnest is timely and consistent with poverty reduction strategies.

The former LSE student said the timeliness of the reforms, which are needed, provides the level of readiness for Jamaica to take advantage of the opportunities offered by the current upswing in the economies of its major trading partners.

Citing the well known phrase “when America sneezes Jamaica catches a cold” Issa argues conversely, stating if the economies of its major trading partners are doing well so will it and that the growth of the Jamaican economy will enable poverty reduction, citing the latest growth forecasts for the developed world.

The latest International Monetary Fund (IMF) outlook for the global economy, which came in time for its annual meetings with the World Bank – a big founder of poverty alleviation projects and programmes – is optimistic.

It said “an upswing in the world economy would likely gather pace into next year, while calling on governments to strike while the iron is hot, as dangers for the current recovery are lurking on the horizon and ambitious reforms are necessary for continued reduction of poverty,” according to a US AFP report.

Referred to as the global crisis lender, the IMF projected global economic output to increase by 3.6 per cent this year and 3.7 per cent in 2018, a marginal increase from forecasts published three months ago but much higher than the growth experienced in 2016.

“The picture is very different from early last year, when the world economy faced faltering growth and financial market turbulence,” IMF Research Director Maurice Obstfeld reportedly said in prepared remarks.

But according to Obstfeld, the current moment presents a transitory opportunity to act, citing recent IMF warnings about sluggish growth in advanced economies, sharpening the divide between rich and poor and swelling sovereign debt levels.

But Issa argues further that given Jamaica’s already positive growth trajectory and its readiness to act upon impending opportunities, it will not be the one out of every five countries projected to return negative economic growth, which is an impediment to alleviating poverty.

In the latest version of its World Economic Outlook, the IMF now predicts advanced economies will grow by 2.2 per cent this year – 0.2 percentage points faster than a July estimate – before slowing to two percent growth next year, the report said.

In particular, it said Britain, Jamaica’s long-time trading partner with a weakening pound shrinking household incomes, as well as the uncertainty surrounding its future relations with Europe could see a drag on its growth.

And in the US, Jamaica’s biggest trading ally, it said “economic activity is strengthening, with the 2017 forecast moving up a tenth of a percentage point since July’s estimate to 2.2 per cent, slowing to two per cent next year.”

Another emerging trading partner, China, is expected to maintain high levels of public investment and pro-growth policies, with growth due to rise by 6.8 per cent this year and 6.5 per cent the next, as the country aims to meet their stated goal of doubling real GDP growth between 2010 and 2020.

But economic shocks and slow-burning dangers from different directions could make all of this short-lived, according to the IMF.

“Faster-than-expected interest rate hikes in the United States or Europe, commercial credit troubles in China, persistently low inflation in the developed world, a whole-sale rollback of post-crisis financial industry rules, a sudden shift toward protectionism and geopolitical tensions could all weigh on growth – making reforms much harder,” the report concluded.

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UN Secretary General makes case for concessionary loans for the Caribbean

Tuesday, October 10, 2017

António Guterres

ST JOHN’S, Antigua (CMC) — United Nations Secretary General António Guterres has made a case for special consideration to be made for mid to high income vulnerable states that have been “deprived” of concessional loans.

Guterras, who paid a visit to hurricane battered countries in the Caribbean over the weekend, said most of those impacted are middle income countries.

Antigua and Barbuda and Dominica were among Caribbean countries hit by Hurricanes Irma and Maria when they passed through the Lesser Antilles last month.

The two Caribbean Community (CARICOM) countries, due to their high per capital incomes, have advanced or “graduated” from the low income Least Developed Country (LDC) designation to Upper Middle Income.

The Category 5 storms severely damaged both countries, leaving trails of death and destruction estimated at billions of dollars.

“Most of the countries impacted are middle-income countries and because of that, they are deprived of the form of assistance or concessional loans that low-income countries can have access to,” said Guterres said after touring the two hurricane-battered countries.

“The fact is that even though these countries have graduated as middle-income countries, they have a number of vulnerabilities that need to be taken into account if we want them to be sustainable as middle-income countries,” he added.

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His comments came two weeks after Antigua & Barbuda Prime Minister Gaston Browne argued before the UN General Assembly (UNGA) that it was unfair for small, vulnerable states to be denied access to concessionary rates because of their per capital income.

Browne, a former banker, told the UN there was no justice in large, wealthy countries borrowing at a favourable three per cent per annum while “so called ‘high income’ small island states are forced to borrow commercially at 12 per cent per annum, to repeatedly rebuild.

He reiterated his position during a joint news conference with Guterres over the weekend, calling for the per capita income criteria to be reconsidered.

“I want to make the call again for the issue of per capita income, that nonsensical criterion, to be scrapped. It is an impediment to the growth and development of small island states.”

Guterres, who was once the UN’s High Commissioner for Refugees, called for “innovative forms of funding” for countries that are facing external shocks like that experienced in Antigua and Barbuda and Dominica.

“When these countries are facing external shocks of the magnitude that we are witnessing, it is absolutely crucial that they benefit from innovative forms of funding, and from assistance, concessional loans, new bonds,” Guterres said.

The UN Chief pledged to do everything possible to ensure that the international community fully assumes its responsibilities in support of the islands impacted by such dramatic events. He also said that the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) is exploring the possibility of transforming the repayment of debt in investments made by the countries in resilience to storms. Affected countries would also be able to benefit from an upcoming donor’s conference.

“There (are) a number of instruments that can be put in place. The World Bank will be launching soon a donors’ conference. I would recall that the World Bank had the initiative several years ago to consider that countries like Jordan and Lebanon, because of the inflow of refugees, even if they were middle-income countries, should have access to concessional financing, because of the external shock that these refugees represented.”

Concerned about the impact of climate change on small vulnerable states, Guterres made a strong appeal for international solidarity with the Caribbean islands impacted by the storms. Not only should such solidarity translate to humanitarian aid, but into new mechanisms that would allow for effective reconstruction to build up resilience to future storms.

“I think we are now facing a similar situation and my appeal to the international community to have an engagement in developing mechanisms of financing allowing the Caribbean states to be able not only to face the enormous challenges they are facing, but to fully commit themselves to the Sustainable Development Goals and to the well-being of their population,” Guterres said.

 

‘Faster and more furious and it’s not Vin Diesel’: Joe Issa Bewails Nature’s Increasing Force of Destruction

As climatologists remain in awe about the speed at which Hurricane Irma developed from Category 1 to Categary 2, the 63 square mile Caribbean territory of Barbuda, in the aftermath, became uninhabitable for the first time in 300 years – a sign which Executive Chairman of Cool Corporation Joe Issa says means the earth is heating up.

“I am no expert in forecasting climate and how it is influenced by global warming; so I believe what I read and hear from credible sources, until they proven wrong; so if they are left in awe by the speed at which Irma developed, I believe this is instructive in terms of giving us a sense of what else is not yet known and what may follow in years to come as the earth gets hotter and hotter providing warmer oceans to fuel them.

“Already we can see that in what Irma did to Barbuda, disabling the entire country and its people, who have inhabited the island for some three centuries. With barely a building left standing and all utilities and infrastructure destroyed they were forced to evacuate to their sister island of Antigua, which escaped by a whisker.

“And it wasn’t only Barbuda. Irma was so wide that it covered a significant portion of the Caribbean including the US and British Virgin Islands, where Tortola got the brunt of it. Many islands are now left counting the costs of lives and property, and it’s not even over yet.

Maria is right behind this time in Dominica where I heard the Prime Minister had to flee his official residence after the roof flew off. The island has been badly damaged and Prime Minister is calling on the international community for help,” said Issa, a known supporter of initiatives to reduce global warming. St. Lucia has offered to act as operation centre to coordinate assistance to Dominica.

It’s not the first time that Issa is supporting the view that global warming is responsible for fiercer hurricanes. And he is not the only one to blame recent hurricane disasters on climate change.

Well-known Caribbean scholar Sir Ronald Saunders has also blamed global warming for the speed and fury of today’s hurricanes like Irma, which has displaced many lives in his native twin-island state of Antigua and Barbuda causing him to call for international support for reconstruction of Bermuda. Venezeula and others are said to be responding.

“Barbuda’s entire housing stock has been damaged by Hurricane Irma and the cost to repair infrastructure will be no less than 150 million dollars (USD)”, Antigua and Barbuda Prime Minister Gaston Browne reportedly said.

 

 

Healthy Seas, Happy People: Joey Issa Likes What Makes Sense

Successful entrepreneur, Joe Issa, who is believed to know more than most what makes sense in business and philanthropy, now adds the environment on his list, as he supports the slogan: “Healthy Seas…Happy People. Makes Sense!”

Commenting on an article of the same title which shames humans for littering the sea with garbage and destroying critical fish habitats, Issa says “it makes sense to keep the sea healthy so that we can continue to exploit its resources much to our pleasure and happiness.”

That the resources of the sea are depleting rapidly by human actions, Issa remarked, “You can’t argue against that; the evidence is glaring all along our coastlines and harbour, which serve as repositories for garbage such as plastic bottles and Styrofoam washed away by rivers and gullies whenever it rains.”

In addition to garbage, humans are also said to be constantly polluting the sea with untreated or partially treated sewage, industrial effluent, ship pollution, or the runoff of chemicals used in agriculture. As much as 40 per cent of the world’s oceans are believed to be heavily affected by human activities including pollution, depleted fisheries, and loss of coastal habitats.

“It’s common sense that if we do not restore the health of the sea by proper disposal of garbage and cleaning and replenishing our coral reefs and mangroves, sooner or later we won’t have a fish to put on the table and a beach to go to, and we won’t be too happy about that,” says Issa.

In agreeing with the article that “the beach is a constant lure for Jamaicans in all walks of life…an escape, the epitome of relaxation and quite simply, the sea makes us happy”, Issa warns, however, that “soon, this will no longer be the case when the sea becomes too polluted to swim in and harbour marine life.”

Noting that the sea has been a source of livelihood for billions of people throughout the world, Issa argues that “if we continue to take from the sea without giving back to it, eventually, it will be unable to sustain life as we know it.”

According to the United Nations, it is the oceans – their temperature, chemistry, currents and life – that drive the global systems that make it possible to live on earth, stating that “our rainwater, drinking water, weather, climate, coastlines, much of our food, and even the oxygen in the air we breathe, are all ultimately provided and regulated by the sea.”

While lamenting the senseless human actions that are causing the earth’s temperature and sea level to rise, Issa finds some comfort in the oceans’ ability to counteract them, contending that “it’s a good thing that the oceans are able to absorb some 30 per cent of the carbon dioxide which we produced, otherwise the impacts of global warming would have been more pronounced today.”

In acknowledging the might of the world’s oceans Issa invokes UN data which show that they cover three quarters of the Earth’s surface, contain 97 per cent of the Earth’s water, and represent 99 per cent of the living space on the planet by volume.

It said over three billion people depend on marine and coastal biodiversity for their livelihoods and estimated the global market value of marine and coastal resources and industries at $3 trillion per year or about five per cent of global gross domestic product (GDP).

Mindful that the oceans and seas have been vital conduits for trade and transportation throughout history, Issa supports the suggestion that “careful management of this essential global resource is a key feature of a sustainable future.”

Joe Issa’s Great Secret in Global Positioning

How Joe Issa came to position his business on the global market is a mystery only to those who are not aware how intelligent he is, and how, with his great quality education he is able to engage anyone at any level of business and socialization anywhere in the world.

Those who do not know of Issa’s uncanny knack of finding solutions also do not understand the business of diversifying, branding and leveraging on the international market.

The art of diversifying, branding and leveraging a business brings great value, which can be multiplied when executed multi-dimensional – interdisciplinary thought…thinking from all different disciplines converging on the same problem…using all sorts of mediums to aid in inquiry and business conclusion.

Multidimensional thinking has also been described as “thinking about a problem from multiple dimensions, rather than simply adopting one approach,” says one person, adding, “It is desirable because it allows for greater intellectual penetration, and also because being an able multidimensional thinker allows one to think without relying heavily on framework.”

Another person noted that “multidimensional thinking applies to virtually anything worth thinking about. So long as the issue is not black and white with an obvious solution, multidimensional thinking aids one in thinking critically and reaching conclusions.”

Through multidimensional thinking Issa has been able, within a relatively short time to build a group of over 50 Cool branded companies operating in many areas in the economy and are being leveraged internationally with the view to making Cool Corporation a global company.

In getting to where it’s at, Cool Corporation has created thousands of jobs for the people of St. Ann and St. Mary through its Cool Card technology alone costing over $100 million.

Coming up with the idea alone, required multidimensional thinking, which has added value to the deal by enabling the business to be operated at the largest possible scale and making the clients self-employed.

Fast Forward Global Warming for Reality Check

One of Jamaica’s largest distributors of petroleum products, Joe Issa, once advocated that “in order to stay connected with tomorrow’s children, we need to create a better world for them today, than we were welcomed into yesterday,” stating that “the best way to visualize it, is to fast forward and then rewind.”

Issa, who is also a philanthropist was at the time agitating for a cleaner air regime, ahead of the Climate Change Conference in Paris due to end today.

Issa is worried that the talks will come to an end without a firm commitment from today’s world leaders to clean up their environment.

“It is heart rending that those who are most responsible for polluting the air that we breathe and destroying our environment, do not even accept blame, preferring instead, to hide behind political clouds.

“But when they drift away in the remaining years of this century, what will be left in the aftermath is pain and suffering for tomorrow’s generations,” says Issa.

Fast forward to 2050 Issa, now 100 years old and living in the highlands describes a recent photo of Jamaica’s north coast.

Says He: “Look at it and tell me what you see – nothing! The beaches are all gone, the mangroves have disappeared and with them, the tourism industry,” as he points to a section of the sea near the now rugged coastline, where hotels once flourished and the Montego Bay International Airport was located.

Characterizing then, the events which had led him to take to the hills, Issa says, “Every year more and more people take to the hills as the sea level rises and gobbles everything; and if I live to see another 50 years I will probably be living somewhere on the Blue Mountains, and many of our sister islands in the Caribbean will have disappeared underneath the sea.”

Rewind to 2015, Issa says, “That’s why we have to fight hard in Paris to get the developed world to accept the reality of global warming and its impact on rising sea level, and get them to accept a cap of 1.5 ^oC in global temperature rise, in order to protect the future of our vulnerable Caribbean islands and the generations to come.”

Joe Issa Urges Caribbean to Join 1point5 to Stay Alive Climate Justice Campaign

 

As concerns mount about the reality of climate change and the vulnerability of the low-lying Caribbean region, Executive Chairman of Cool Corporation, Joe Issa, one of Jamaica largest indigenous petroleum dealers, says he is pleased with the under-2 ^oC cap in Global Warming reached at the just concluded Paris Conference and urges strict monitoring of country pledges to sustain that goal.

 

 Issa was commenting on a December 12, 2015 article in the North Coast Times titled “Joe Issa Urges Caribbean to Join 1point5 to Stay Alive Climate Justice Campaign” at http://www.northcoasttimesja.com/?p=3449, in which he urged the Jamaican and Caribbean public to join a growing call to limit global warming to 1.5 ^oC above preindustrial levels by 2100, noting that major land loss of Caribbean territory could occur at higher temperatures.

 

 “I thought it was important to get people to buy into the campaign because it is a worthy one as the reality of global warming is already coming to pass and we need to curb or stop it altogether. I believe that all of us have a duty to defend our generations and I think the time is now because there won’t be another Paris any time soon. It’s the last opportunity to at best, minimize the catastrophe waiting to happen. It’s a threat that must be countered in Paris with a strong, unified lobby to resist any attempts to cap temperature rise above 2 ^oC.

 

 “Now that the Paris Conference is over, I didn’t get exactly what I wanted, but I am pleased with the compromised agreement of a cap of under-2 ^oC in global warming. What I want now is for the Jamaican and Caribbean negotiators to keep monitoring the pledges made by the UN countries to the agreement, especially the big developed countries who are most responsible for carbon emission into the atmosphere, to ensure that the targets set are binding and are being met on an ongoing basis, and that they are sufficient to achieve the goal,” says Issa.

 

 Noting that it was never going to be easy to get the rich nations to increase their carbon-cutting pledges while assisting poor countries in meeting their targets, Issa, who a Eucharistic Minister in the Roman Catholic Church, and whose parents once hosted Pope John Paul at their Kingston residence, said that “we needed divine intervention and it came in the form of a plea by Pope Francis.”

 

According to Wikipedia’s report, “2015 United Nations Climate Change Conference” accesses on October 28, 2015 at https://en.wikipedia.org/wiki/ 2015_United_ Nations_Climate_Change_Conference, Pope Francis had released an encyclical to influence the outcome of the conference. In it, he called for action against human-caused climate change. The report also cited the International Trade Union Confederation, which called for the goal to be ‘zero carbon, zero poverty’, as well as General Secretary, Sharan Burrow, who has repeatedly said ‘there are no jobs on a dead planet’.

 

As Issa had anticipated, what happened in the dying moments of the conference to reach a compromised agreement is described in Fiona Harvey’s December 14, 2015 article in theguardian titled, “Paris climate change agreement: the world’s greatest diplomatic success”at http://www.theguardian.com/environment/2015/dec/13/paris-climate-deal-cop-diplomacy-developing-united-nations.

 

Hailing the Paris agreement as “historic, durable and ambitious”, it informed that all 196 UN member countries will be required to cap their carbon emissions to relatively safe levels of 2 ^oC, with an aspiration of 1.5 ^oC, and that there would be regular reviews “to ensure these commitments can be increased in line with scientific advice.”

 

The article noted that finance would be made available to poor countries to assist them in cutting emissions and coping with the impacts of extreme weather. It added that countries affected by climate-related disasters would gain urgent aid.

 

“Like any international compromise, it is not perfect: the caps on emissions are still too loose,” the article said, stating that they could lead to global warming of 2.7 ^oC to 3 ^oC above pre-industrial levels, which it said is a breach of the 2 ^oC threshold “that scientists say is the limit of safety, beyond which the effects – droughts, floods, heat waves and sea level rises – are likely to become catastrophic and irreversible.”

 

It said that “poor countries are also concerned that the money provided to them will not be nearly enough to protect them” and that “not all of the agreement is legally binding, so future governments of the signatory countries could yet renege on their commitments.”

 

Concerned by the bleak prospects for mother earth, Issa says that “the agreement was needed as a benchmark to follow, but it will depend on us, as small, poor nations to ensure that they are not only followed, but lowered to the safer level of 1.5 ^oC”, noting that “our countries in the Caribbean are low-lying islands with much of its social and economic life taking place along coastal areas…most of our villages, towns and cities are located along the coasts and are the first targets of rising sea levels which are caused by global warming…we have the biggest stake in this global agreement to reduce greenhouse gases.”

Hard at work

SUPERCLUB’S GOES GLOBAL: Global education 2000 continues to flourish with the generous assistance of Sans Souci Lido and the personal support of its general manager, Joe Issa. This month Broward Elementary school teachers and business partners visited their ‘twin’, Three Hills All Age School in St. Mary. While the Broward Elementary school teachers taught lessons, business partners, Tony Fusco and the staff of San Souci Lido made book shelves for the library and repainted the school.