The Future of Fossil Fuels: Insights from COP 28 and Elon Musk’s Perspective

2023-12-17 19:32:36

The countries consuming fossil fuels (oil, gas and coal) have decided toDuring the Conference of the Parties on Climate Change (COP 28) which was held in Dubai from November 30 to December 13, 2023, to gradually move away from these energies.

Indeed, the final declaration signed after tough negotiations between the bloc representing producing countries and that of consuming countries recommends “a gradual transition away from fossil fuels”. Western countries, responsible for the main global greenhouse emissions, have pointed the finger at fossil fuels as the cause of “global warming” and downplayed the impact of long decades of industrialization.

COP 28 was therefore a continuation of the trade war between OPEC and the IEA over the future of fossil fuels. This war can be summed up in two different visions of the future: consumer countries want to end their dependence on fossil fuels, developing countries are trying, for their part, to preserve their survival by exploiting their own resources. guaranteeing them income which allows them to have access to development.

Musk to the rescue of oil and gas

It is in this context that the sulfurous, but nevertheless very influential, businessman Elon Musk spoke about the future of fossil fuels. Reducing carbon emissions is important to preserve the planet, but oil and natural gas should not be demonized in the medium term, he said.

The founder of electric car maker Tesla added that “climate change alarm is overblown in the short term.” The American billionaire also blames “a certain fatalism” concerning the future of humanity on the environmental movement which would have gone very far in its warnings. For Elon Musk, who considers himself an environmentalist, it was important that in the long term, industries reduce the billions of tons of carbon that they take from the earth and release into the atmosphere by burning fossil fuels. “We should not demonize oil and gas in the medium term,” he concluded.

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