Russian-Ukrainian War: CEO of Tesla Elon Musk said that sustainable energy solutions cannot instantly redeem the export of Russian oil and gas.
The Chief Executive Officer Tesla Elon Musk called for an urgent increase in oil and gas output when the Russian state-owned company faced sanctions on the Ukrainian War. Musk, co-founder of electric vehicles and clean energy companies, said that the move would “affect negatively” Tesla but acknowledge that sustainable energy solutions cannot instantly redeem the export of Russian oil and gas.
“Hate to say it, but we need to immediately increase oil & gas output. Extraordinary time demanding extraordinary steps,” Tesla’s CEO wrote on Twitter.
“Obviously, this will negatively affect Tesla, but sustainable energy solutions cannot react instantly to redeem Russian oil & gas exports,” he added.
The price of crude oil continued its surge on Friday because it ended a week at the highest multi-year after oil buyers were shunned by imports from Russia, the second largest crude exporter in the world after Saudi Arabia. While Canada banned Russian oil imports earlier this week, the British Foreign Minister said that Britain would look for targeting the Russian energy industry in the sanctions in the future.
The Biden government was also under pressure from the Democrats and the Republican Party to impose harder sanctions against Russia, including the oil company, because Moscow Wage War in Ukraine. A Reuters / IPSS poll shows that most Americans support the import of Russian oil.
The Chairman of the Texas Energy Regulator wrote to US President Joe Biden asked to ban Russian oil imports and support US production ramp-up.
“Internationally, countries and divestment companies and boycotts from Russia Putin and look for local sources and from allies,” Wayne Train Commission Christian Texas said in a letter to Biden on Friday. “The U.S. It shouldn’t be different. We can and must be independent – let’s source and buy America.”
