Elon Musk Unveils Plan to Gradually Phase Out Oil and Gas

The American company Tesla has presented a comprehensive report on how to transform the world by moving away from fossil fuels and the associated costs. According to Elon Musk's company, abandoning traditional fuels in favor of green and renewable sources (RES) will cost significantly less today than the continued reliance on oil and gas for energy production. The main ideas of the program are highlighted by Bloomberg.

Tesla analysts claim that their global energy transition plan will cost just $10 trillion, whereas the current baseline plan to reduce dependency on fossil fuels in favor of renewable energy would cost an additional $4 trillion.

"An electrified and sustainable future is technically feasible and requires less investment and material extraction than maintaining today’s unstable energy economy," states Tesla’s report.