Exxon Mobil’s CEO Rex Tillerson believes the U.S. will be self sufficient and energy secure by 2020. The country is the largest natural gas producer in the world and is producing oil at rates not seen since the 1980s.
Production of crude oil is expected to continue growing over the next few years and Tillerson thinks it’s “realistic” that the U.S. will be secure in energy by the end of the decade. Watch more below:
Tillerson discusses the difficulty of developing shale gas reserves in China. There is a lot of potential, but the formations are deeper and in more remote locations. There are a number of challenges that will delay development.
He also touches on unknown fiscal policy and how the uncertainty might be hurting economic growth here at home.