The world must produce more oil and gas now to deal with the current energy crisis while developing renewable sources of energy, Tesla Inc. CEO Elon Musk said.
“Realistically I think we need to use oil and gas in the short term, because otherwise civilization will crumble,” Musk said Monday on the sidelines of the Offshore Northern Shore Conference in Norway.
Musk also noted that Norway should continue drilling for oil and gas adding that “additional exploration is warranted at this time.”
He said 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,” he said.
Power prices in Europe continue to break records as the region continues to grapple with energy crisis, intensifying fears about access to electricity and heating with cooler weather expected in the coming months.
In a recent statement, Shell CEO Ben van Beurden warned that Europe may need to ration access to energy for several years as the crisis confronting the region is likely to last more than one winter, the Financial Times reported.
