Elon Musk: Oil bailouts would not be the greatest use of money

Tesla CEO Elon Musk has said that permitting oil and gas companies to take credit facilities from COVID-19 package is "not the greatest use of money". "Frankly, much of the stimulus money is questionable, but this much to oil and gas seems especially so," Musk said in a response to a Twitter user who had asked about the possible bailout.

Just a day after U.S. President Donald Trump announced that he was working on a plan to help prevent job losses in the oil industry, Elon Musk said he didn’t think it would be the best idea.

“Much of the stimulus money is questionable, but this much to oil & gas seems especially so,” Musk said in a response to a Twitter user who had asked about the possible bailout.