Tesla Motors CEO Elon Musk Calls For Tax on Carbon Emissions

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Elon Musk, the co-founder and CEO of Tesla Motors Inc (NASDAQ:TSLA) said that the supporters of climate change should make some changes in the argument on climate sciences.

Tesla Motors Inc (NASDAQ:TSLA) has paid the $465 million Energy Department Loan and asked those who attended the Climate Leadership Gala in Washington, D.C. to put the provision of proof on those who do not accept that greenhouse gas emission acts as a catalyst to global warming.

“If you were to ask any scientist, ‘Are you absolutely certain’ about anything, they would say, ‘Well, no. There’s a .001 percent chance it could be different.’” Musk said. He further said that it is better to ask that how sure are they that it is not dangerous and then someone can arrive at the correct answer.

Musk further mentioned that he has the key to the problem, but it has been rejected by the Republicans. He suggested that a tax should be levied on carbon emissions, and the suggestion was welcomed by the attendees there with cheers. He said that he did not get that much applause when he was discussing this with Congress.

Tesla Shares Rising After Q1

Tesla Motors Inc (NASDAQ:TSLA) recorded tremendous earnings for the first quarter of 2013. For the first quarter of 2013, revenues came in at $562 million.

Tesla Motors Inc (NASDAQ:TSLA) has emerged as an innovative company and has many plans for the future of American automobiles.  However, many investors are still in doubt and looking to the other investors as to what they are going to do with their shares. Short sellers, as well as long term buyers, are flocking to the stock, which has shot the price of the stock very high.

From the start of 2013, Tesla was in the limelight and the stock of the company surged more than 65 percent. The price targets of Tesla Motors Inc (NASDAQ:TSLA) have been increasing multiple times since the company announced the first quarter 2013 earnings.

BAML Thinks Otherwise

However, Bank of America is fixing a lower target than what others are expecting. According to a report from Bank of America, shares of Tesla Motors Inc (NASDAQ:TSLA) are “highly overvalued” and the bank’s point of view remains unchanged ever since Tesla Motors Inc (NASDAQ:TSLA) shares began to stretch the limits in April.

Analysts at the bank hold the view that the capital expansion is a “a positive move that should provide additional balance sheet cushion.” However, they have lowered their estimates in the belief that the stock is overvalued.

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