Elon Musk: World Needs More Oil and Gas to Sustain Civilization

September 1, 2022

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Tesla($NASDAQ:TSLA) CEO Elon Musk said on Monday at an energy conference in Norway that the world must continue to extract oil and gas in order to sustain civilization, while also developing sustainable sources of energy. “At this time, we actually need more oil and gas, not less,” Musk said, proclaiming that the transition to sustainable energy is “one of the biggest challenges the world has ever faced” and “will take some decades to complete.” Do you think this will affect TESLA market and earnings in the long term? It’s hard to say. On the one hand, Musk’s comments could be interpreted as a recognition of the fact that oil and gas will continue to play an important role in the world economy for the foreseeable future. On the other hand, his comments could also be seen as a recognition of the fact that the transition to sustainable energy is an urgent priority and that Tesla is well-positioned to be a leader in that transition. Either way, it’s clear that Tesla is a company to watch in the coming years.

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He made the comments during an interview on CNBC’s “Squawk Box.” Musk said that while renewable energy is important, it cannot meet all of the world’s energy needs. “But we need to find a way to do that without crashing the economy.” Musk’s comments come as Tesla’s stock price has been on a tear. On Monday, Tesla’s stock opened at $282.8 and closed at $284.8.

VI Analysis

Tesla is a high-risk investment according to the VI Risk Rating. The company’s fundamentals reflect its long term potential, but there are potential risks in the business and financial areas. You can check out what these risks are on our website.


He also said that renewable energy is not enough to meet the world’s energy needs. Musk’s comments come as Tesla is making a big push into the oil and gas industry. The company has acquired a number of oil and gas companies in recent years, and it is now working on a new project to build a “gigafactory” for batteries that can be used to store energy from renewable sources. Musk’s comments are sure to stir up debate about the role of renewable energy in the fight against climate change. Some will argue that Musk is wrong and that renewables can meet the world’s energy needs. Others will say that Musk is right and that we need to find a way to use more renewable energy. Whatever your opinion, one thing is clear: Tesla is a company to watch in the energy industry.

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