Elon Musk comments on future of oil and gas

Without fossil fuels "civilization will crumble," according to the billionaire

The transition to renewable energy sources is one of the most difficult tasks facing the planet and it could take several decades, Tesla CEO Elon Musk told reporters on Monday. He stressed that the world must continue to extract oil and gas in order to maintain civilization, while continuing to also develop sustainable sources of energy.

“Realistically, I think we need to use oil and gas in the short-term, because otherwise civilization will crumble,” Musk said during an energy conference in Norway, adding that he’s not one to “demonize” fossil fuels. At the same time, “we must have a clear path to a sustainable energy future.”

Asked if Norway should continue to drill for oil and gas, Musk said: “I think some additional exploration is warranted at this time."

“One of the biggest challenges the world has ever faced is the transition to sustainable energy and to a sustainable economy … that will take some decades to complete,” he added.

The businessman also noted that offshore wind power generation in the North Sea, combined with stationary battery packs, could become a key source of energy. “It could provide a strong, sustainable energy source in winter,” Musk suggested.

In March, the billionaire called on Europe to return to nuclear power, as well as to boost oil and gas output in order to offset Russia’s influence. Despite Musk’s calls, it would likely take years for Europe to restart its nuclear power stations, which have gradually been shut down across the continent in favor of green energy commitments.

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