February 3, 2023

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Musk agrees with Jamie Dimon, CEO of JP Morgan Chase, that the transition to green energy will take 50 years.

Jamie Dimon, CEO of JP Morgan Chase He warned policymakers not to rush into a transition to green energy, and said the world will depend on oil and gas for another 50 years during an interview on CNBC from Davos on Thursday.

“Climate is a serious issue that needs to be taken seriously,” Dimon said. “And by the way, we’re not doing a good job at it.”

“We need oil and gas,” Dimon said. “It’s 100 million barrels per day that the world uses to heat fuel and feed people.”

When asked how long, Damon replied, “For 50 years.”

Jamie Dimon on debt ceiling: ‘It’s not something we have to play with’

Jamie Dimon, CEO, JPMorgan Chase & Co. , speaks during the Institute of International Finance (IIF) annual membership meeting in Washington, D.C., US, on Friday, October 18, 2019. Photographer: Al Drago/Bloomberg via Getty Images

Dimon warned of “catastrophe” if oil and gas production stopped immediately.

Tech billionaire and Twitter CEO Elon Musk tweeted support for Dimon’s comments Thursday.

“True, there will be a long tail of utilization, but it will peak long before that,” he wrote.

Musk continued, “It is likely that the peak demand for oil will occur within the next five years.”

Manchin is eyeing a deal with McCarthy to curb wasteful government spending

FILE - Tesla and SpaceX CEO Elon Musk speaks at the SATELLITE Conference & Expo in Washington, Monday, March 9, 2020.

FILE – Tesla and SpaceX CEO Elon Musk speaks at the SATELLITE Conference & Expo in Washington, Monday, March 9, 2020.
(AP Photo/Suzanne Walsh, File)

Last year, Dimon testified before the US House Financial Services Committee that ending all financing for oil and gas projects It would be the road to hell for America..

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After his remarks, “Squad” member Rashida Tlaib, D-Michigan, encouraged Banks to run on Chase. In response, the Wall Street Journal editorial board She published an article criticizing the congresswoman.

Cheniere Energy Inc's liquefaction facility at Corpus Christi Bay in Portland, Texas, February 19, 2021.

Cheniere Energy Inc’s liquefaction facility at Corpus Christi Bay in Portland, Texas, February 19, 2021.
(Eddie Seal/Bloomberg)

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during the interview, Damon warned That the upcoming battle over the debt ceiling is not something to be taken lightly.

“This is just part of the financial architecture of the world, and it’s not something we should play with at all,” he said.