The world needs more oil and gas now to deal with an energy shortage while pushing to transition to renewable supplies, Tesla Inc. Chief Executive Officer Elon Musk said.
Musk made his comments as Europe is grappling with its worst energy crisis in decades, with Russia lowering natural gas deliveries to the region and nuclear power-plant outages in France further sapping supply. Wholesale energy prices have soared to records in the past months. Musk said the transition to a sustainable economy should be “as fast as possible,” adding that ocean wind has “massive untapped potential” and that he’s also a proponent of nuclear energy.
While countries including France, Spain and Sweden support nuclear energy, Germany -- Europe’s biggest economy -- plans to shutter its three remaining atomic power stations by the end of the year. While the country’s ruling coalition has come under pressure to prolong their operating life because of the current crisis, Economy Minister Robert Habeck reiterated his view that nuclear power is not reliable in an interview with Bloomberg.
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