Exxon's Tillerson: U.S. will be energy secure by 2020

|About: Exxon Mobil Corporation (XOM)|By:, SA News Editor

The U.S. will be energy secure by the end of the decade, Exxon Mobil (XOM) CEO Rex Tillerson tells CNBC: "We're already the world's largest natural gas producer [and] last year crude oil production surpassed levels not seen since the 1980s."

According to Tillerson, China’s shale reserves likely are larger than those in the U.S. but are difficult to develop; most are buried much deeper than in North America, and many are in remote areas where there is little infrastructure to support their development.

XOM has partnered with a state oil firm to study to test shale potential in China, but Tillerson says it is in the early stages of evaluation.