"OIL AND GAS SHOULD NOT BE DEMONIZED ", ELON MUSK

It is important to reduce carbon emissions to preserve the planet, but oil and natural gas should not be demonized in the medium-term, Elon Musk, the founder of electric car maker Tesla, said on Saturday.

Elon Musk source: economictimes.com

Last week, delegates from almost 200 nations, at the COP28 climate summit, reached a consensus to initiate a reduction in worldwide fossil fuel consumption, aiming to mitigate the most severe impacts of climate change and marking the eventual conclusion of the era of oil.

"Climate change alarm is exaggerated in the short term," the US billionaire said, adding that the environmental movement may have gone too far, causing people to lose faith in the future.

Musk said he considers himself an environmentalist and added that it is important that, in the long run, industries reduce the billions of tons of carbon they are taking from the earth and free in the atmosphere by burning fossil fuels.

"We should not demonize oil and gas in the medium term," he added, speaking in Rome at a gathering of the Italian Prime minister Giorgia Meloni's right-wing political party.

source: economictimes.com

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