Elon Musk Asserts Oil and Gas Should Not Be Demonized

   Addressing the crucial need to curb carbon emissions for the sake of our planet, Elon Musk, the visionary behind electric car manufacturer Tesla (TSLA.O), emphasized on Saturday that while it's vital to cut down on carbon emissions, oil and natural gas shouldn't be vilified in the short to medium term.

This statement comes in the wake of a significant development earlier this week at the COP28 climate summit, where representatives from nearly 200 nations concurred on the necessity to initiate a reduction in global fossil fuel consumption. This collective decision signals a significant move toward mitigating the impacts of climate change and hints at the eventual phasing out of the age of oil.

U.S. billionaire Elon Musk has weighed in on the climate change debate, asserting that the alarm surrounding it is somewhat exaggerated in the short term. Musk, who identifies as an environmentalist, expressed concern that the environmental movement might have pushed too hard, leading to a loss of faith in the future among the public.

While acknowledging the current state of affairs, Musk emphasized the importance of a long-term perspective. He underscored the need for industries to eventually curtail the billions of tons of carbon extracted from the earth and released into the atmosphere through the combustion of fossil fuels.

In a statement made at a gathering of Italian Prime Minister Giorgia Meloni's right-wing political party in Rome, Elon Musk underscored the need to avoid demonizing oil and gas in the medium term.