Elon Musk Pushes US for Increase in Oil Output Despite Possible Losses for Tesla

Tesla co-founder and CEO Elon Musk is pushing the US to increase its oil output in the backdrop of the Russia-Ukraine war, assuring that extraordinary times demand extraordinary measures despite the wider fact that it might have a negative impact on his company.

Musk on Friday said in a tweet, "Hate to say it, but we need to increase oil and gas output immediately. Extraordinary times demand extraordinary measures."

Elon Musk
Elon Musk Wikimedia Commons

US Sponsoring Russian Invasion

Tesla CEO's tweets came as the US is under immense criticism with many saying the Biden administration is funding the Russian invasion of Ukraine as it continues to buy oil from Russia.

The US administration has also poorly responded to widen the country's energy sources as the war is disrupting the energy market worldwide.

US shale oil future
Representative image Reuters

Despite the present scenario of war, the US is purchasing nearly 6,50,000 barrels a day from Russia, strong funding to the Russian troops which helps Kremlin in the Ukraine war despite facing massive sanctions from the West.

Loss to Tesla

Musk has admitted that the increase in the oil output by the US will affect his company, Tesla. "Obviously, this would negatively affect Tesla, but sustainable energy solutions simply cannot react instantaneously to make up for Russian oil and gas exports," he said in a tweet.

One of the 10 oil barrels consumed in the world is produced in Russia. It makes the country the third-largest oil producer in the world.

Tesla Logo (Representational Picture) Wallpaper Flare

Despite the West's avalanche of sanctions against Russia, the US administration did not impose measures against Russia's energy sector, a clear indication that Washington lacks energy sources and blocking Russian oil firms could hamper it back.

US Secretary of State Antony Blinken has rejected any possibility of imposing sanctions against the Russian energy sector underling that the move is not in line with America's strategic interest.

Meanwhile, the push for Musk to increase oil output is gaining the attention of people as many underlined Tesla CEO says drill baby drill.

American Enterprise Institue's Senior Fellow Marc Thiessen tweeted, "Founder of electric car company says drill baby drill!"

Replying to Musk's tweet, US Congresswoman Lauren Boebert said, "America is funding Russia's war by buying Russian oil and gas rather than producing our own."

This article was first published on March 6, 2022
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