Elon Musk shared his perspective on the role of oil and gas during a political gathering organized by Italian Prime Minister Giorgia Meloni’s Brothers of Italy party. Musk acknowledged that, in the medium term, oil and gas should not be demonized. However, he underscored the importance of addressing carbon emissions to safeguard the planet’s future.

Expressing a nuanced stance on climate change, Musk asserted that the alarm surrounding it might be exaggerated in the short term. He suggested that the environmental movement may have gone too far, potentially causing skepticism and diminishing faith in the future among the public. Notably, Musk’s remarks came shortly after the COP28 climate summit, where representatives from nearly 200 countries pledged to reduce global fossil fuel consumption, signaling a shift away from the oil age.

While Musk identified himself as an environmentalist, he emphasized the long-term goal of industries reducing carbon emissions derived from burning fossil fuels. He argued against demonizing oil and gas in the medium term, acknowledging their continued significance while advocating for a transition toward cleaner alternatives.

In addressing Italy’s economic landscape, Musk expressed concern about the country’s declining birth rate. He considered Italy an attractive place for investment but highlighted the importance of a growing workforce. Musk suggested that the Italian government create incentives for families to have more children, cautioning against relying solely on immigration to fill the demographic gap. Italy, recognizing its demographic crisis, allocated approximately 1 billion euros in the next year’s budget to tackle the issue.

Turning to his business ventures, Musk addressed questions about advertising on his social media platform, X. Despite concerns about a decline in advertising, Musk reassured that the platform was already witnessing the return of advertisers. His optimistic outlook hinted at the platform’s resilience and ability to adapt to market dynamics.

Elon Musk’s statements reflect a pragmatic approach to the role of oil and gas in the short to medium term, emphasizing the need for a balanced perspective on environmental issues. Additionally, his concerns about Italy’s declining birth rate and support for incentivizing family growth underscore the intersection of economic and demographic considerations.

Source: Reuters