The producer behind the music of John Lennon, Paul McCartney, John Mayer and other iconic artists said in an interview published on Tuesday that he will be “crippled” by the climate change, as he has “lost all my money”.
Gotti, 74, said he would need to cut his losses if he is not able to produce more than 100,000 barrels of oil per day (bpd) by 2030, which would be the biggest decline in production since the 1960s.
He said the only way to be profitable is to reduce production by 30 per cent to 40 per cent.
“I have to stop producing.
I don’t know if I’ll ever be able to survive in my current situation,” Gotti said.”
We’ve lost everything we have in this industry.”
Gotti was the founder of a company, Gotti Productions, in 1976, and has worked as a producer, musician, film producer, songwriter and producer.
He also produced and co-wrote tracks for the Beatles, the Rolling Stones, Queen and the Rolling Stone’s Jimmy Webb.
He told the BBC that he would be “worse” financially now than he was when he first began producing.
“There’s no way that I can do it again,” he said.
Gotti said the most important thing to do is to stop wasting your money.
“This will be one of the most difficult things I have ever done, but I’ve learned a lot about how to work, how to take care of my family and myself,” he added.
Gotta stop producingGotti has a son with his second wife, Lisa.
His children are still alive, and he has two grandchildren, aged 10 and 12.
“The biggest problem with the world right now is that we are all dying, and there is no way we’re going to be able be there,” he told the broadcaster.
“It’s not a matter of whether or not we’ll be able produce 100, 000 bpd of oil.
It’s a matter if we are going to survive.”
Gottia’s comments came days after the Organisation for Economic Co-operation and Development (OECD) released a report predicting that global oil demand will fall by up to 30 per of a barrel in 2030.
Gottian told the Irish Independent that it was a mistake to think that the world would continue to use the oil it produces.
“Our oil demand is going down.
Our production is going up.
It is not a case of we will not be able continue to produce,” he explained.
Gotini said that, for now, he has more money in his bank account than he does in his home, and that the last thing he wants is to lose it.
“That money is very important to me, but it is not enough,” he stressed.
“My heart is not broken, and I have nothing to lose.”
He said he has already been able to afford to start selling his family home, but said he will only do so if he receives an offer from a buyer.
“If I get a very reasonable offer from somebody, I will sell it for a decent price, because I can afford it,” he argued.
“Then I can sell it, because it is a property worth buying.
I can give up everything and move to a better place, and the only thing I want is for people to have money to buy it.”
Gotta Stop ProduceGotti’s comments come days after a report from the Organisation of Economic Cooperation and\ders predicted that global demand would fall by around 40 per of an oil barrel by 2030.
In a report released on Tuesday, the OECD said that oil demand would remain flat in the future.
“By 2030, the global oil consumption is expected to remain at approximately 3.6 billion barrels of crude oil,” the report said.
The report added that demand would drop to 3.1 billion barrels by 2060.
“As global demand declines, the proportion of available global supply is expected at a rate of around one-third by 2070,” it said.
In his interview, Gotta said he had been making a lot of money for a long time and was making the same money in a short time.
“In the last 20 years I’ve been making $5m per month and that is my life,” he remarked.
Gotto also claimed that the economic climate in Ireland was “a good one” in the past.
“A lot of people say it’s hard, but they’re wrong,” he noted.
“People are still living their life in their comfort zones, and they’re not being challenged.
I am not challenging myself.
I’m just trying to do what I love, and what is good for the country.”GOTI is a member of the Southside producer-manager association and its executive committee