Elon Musk says world needs more oil and gas for one key reason

“Hate to say it, but we need to increase oil & gas output immediately. Extraordinary times demand extraordinary measures.”

However, as Musk’s wide fan following will agree, Elon is a pragmatic man, and his comments need to be taken in the context they have been made. At the onset of conflict in Ukraine, Musk realized the wielding power oil and gas exports gave Russia, and his comments were aimed at countering this effect.

Musk is also aware that oil and gas exploration and extraction cannot be done in a jiffy and he is reiterating his previous comments since the realities on the ground haven’t changed. Rather Europe is facing its worst energy crisis in decades.

Amidst soaring energy prices, European officials have set aside 280 billion euros ($278 billion) in funds to ease the financial pain of businesses and individuals this year. However, given the scale of the problem, the funds are likely to fall short, Bloomberg said in its report.

What Elon Musk really said

At the event on Monday, Musk said that he wasn’t someone who would demonize fossil fuels, and at this point, the world needed more oil and gas, not less. Musk and his company, Tesla, both aim at “accelerating sustainability,” but the EV industry needed to expand massively to replace the energy provided by fossil fuels.

Musk added that in the short term, the world needed to use more oil and gas; otherwise, “civilization would crumble.”

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