Extraordinary times demands extraordinary measures, those were the words of Tesla’s Elon Musk as he called for an increase in Oil & Gas production.
The Billionaire CEO of Tesla called on the United States to increase its domestic oil to make up for any shortages that may arise due to drop in Russian oil & gas exports.
Read also; UBA’s Board of Directors propose N0.80 final dividend for 2021 financial year
Elon Musk expressed his opinion on the issues via twitter as the Biden administration continue to face increased criticism from both sides of the aisle for not doing more to focus on American energy production in response to Russia’s invasion of Ukraine, which has disrupted energy markets worldwide.
Hate to say it, but we need to increase oil & gas output immediately.
Extraordinary times demand extraordinary measures.
— Elon Musk (@elonmusk) March 5, 2022
In acknowledging the negative effect on Tesla, Musk stated that sustainable energy solutions simply cannot react instantenously to make up for Russian oil & gas exports.
Foxbusiness report seen by Investogist stated that “Additionally, reports have shown that the U.S. is buying 650,000 barrels a day from Russia, which some have argued is essentially financing Russian President Vladimir Putin’s war machine.”
Russia is the producer of one out of every 10 barrels of oil consumed by the world, according to the New York Times, making it the third-largest oil producer in the world.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
