Elon Musk, the CEO of SpaceX, has reportedly been found to be exploiting the conflicting missions of federal agencies to further his space travel ambitions.
What Happened: The investigation centered on the aftermath of a recent launch of SpaceX's Starship, the largest rocket ever manufactured, The New York Times reported on Monday. Post-launch, a team from SpaceX, the U.S. Fish and Wildlife Service, and a conservation group surveyed the surrounding migratory bird habitat. They discovered significant environmental damage, including destroyed bird nests and debris scattered across public lands.
According to the report, this incident is not isolated. Since 2019, SpaceX operations have caused fires, leaks, explosions, and other problems at least 19 times, causing environmental damage and raising concerns about the balance between technological progress and ecosystem protection.
The report also highlights how Musk has capitalized on the differing goals of various agencies, particularly the Fish and Wildlife Service and the National Park Service, to further SpaceX's expansion. These agencies, tasked with protecting the area's cultural and natural resources, have repeatedly lost out to more powerful agencies, such as the Federal Aviation Administration, whose objectives align more closely with Musk's.
Despite the environmental concerns, SpaceX executives and FAA officials maintain that their operations are crucial for the advancement of the U.S. civilian space program.
SpaceX has yet to respond to the queries sent by Benzinga.
Why It Matters: The recent investigation adds to a growing list of environmental concerns surrounding Musk's ventures. There is growing local apprehension in Texas due to the environmental risks posed by Musk's rapidly developing construction sites.
In March, Musk dismissed environmental activists protesting against the expansion of Tesla's gigafactory in Berlin, questioning their intellectual abilities and independence.
Furthermore, in June, Musk criticized Blue Origin, owned by Jeff Bezos, for attempting to limit SpaceX's launches through legal means, highlighting the ongoing tension between the two space companies.
Price Action: Destiny Tech100 (NYSE:DXYZ), an ETF that allows investing in SpaceX among other tech stocks was trading 3.52% higher at $15 on Monday pre-market at the time of writing, as per Benzinga Pro.
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This story was generated using Benzinga Neuro and edited by Pooja Rajkumari