Elon Musk urges the US to increase oil and gas production

Tesla CEO Elon Musk has said the United States needs to increase oil and gas output “immediately” after Moscow’s invasion of Ukraine, despite admitting it would have a “negative” effect on his electric vehicle company.

Musk took to Twitter on March 5 to share his thoughts on the United States boosting production at home in an effort to become less dependant on Russian oil, as entities across the world move to distance themselves from President Vladimir Putin and his actions.

“Hate to say it, but we need to increase oil & gas output immediately,” the businessman wrote. “Extraordinary times demand extraordinary measures. Obviously, this would negatively affect Tesla, but sustainable energy solutions cannot react instantaneously to make up for Russian oil & gas exports.”

In a follow-up tweet, Musk added that increasing both oil and gas production in theUnited States “in the short term is critical or people around the world will be placed under great duress” and noted that “this is not a question of money, it is a question of having enough energy to power civilization.”

According to the United States Energy Information Administration, Russia is the third-largest producer of oil globally after the United States and China. Russia has 11 percent of the world’s total market share, while the United States has 20 percent.

In 2021, the United States imported an average of 209,000 barrels per day (bpd) of crude oil and 500,000 bpd of other petroleum products from Russia, according to data by the American Fuel and Petrochemical Manufacturers (AFPM) trade association.

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