Tesla CEO and billionaire entrepreneur Elon offered his thoughts on the two things the planet needs more of on Monday.

Musk says the planet needs more babies and oil.

That's right, the CEO of an electric car company says we need more oil.....and babies.

"We don't want the population to drop so low that we'll just eventually die," Musk, CEO of SpaceX, told reporters in Stavanger, southwest Norway.

"At least make enough babies to sustain the population," he continued.

Musk says many western companies are facing declining birth rates and ageing societies.

"They say civilization might die with a bang or with a whimper," added Musk, who has fathered 10 children. "If we don't have enough kids, then we will die with a whimper in adult diapers. And that will be depressing."

Musk also focused on the importance of fossil fuels, of all things.

"I think realistically we do need to use oil and gas in the short term, because otherwise civilization would crumble," he said, adding that "some additional exploration is warranted at this time".

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