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USA: Tesla CEO Predicts End Of Oil

Elon Musk, chairman and chief executive of luxury electric-car maker Tesla Motors says the world needs to electrify most vehicles, not just for environmental conservation, but because oil supplies will eventually run out.

“Oil is a finite resource, it’s not a question of if, it’s when,” says Musk, speaking at The Wall Street Journal’s Eco:nomics conference in Santa Barbara.

Musk, who is also chief executive of space travel company SpaceX, predicts that as oil “gets more scarce” prices will spike so high that the economy “will grind to a halt.”


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