Whoever wins the 2024 U.S. election should work to preserve America's energy dominance rather than risk losing it, TotalEnergies CEO Patrick Pouyanne told CNBC on Monday.
The U.S. is the world's largest oil producer, accounting for 22% of the global total, according to the Energy Information Administration, with Saudi Arabia next, producing 11%.
The vast majority of U.S. crude is consumed within the country, which is also the world's largest oil consumer.
Roughly 64% of total U.S. crude oil production is shale and the French international energy firm CEO said the U.S. will also soon be No.
Looking ahead to the election, former President Donald Trump and the Republican party have long been proponents of U.S. shale production, pushing for deregulation of the industry and an expansion of drilling projects — drawing the ire of climate activists and many on the left.
Persons:
Patrick Pouyanne, Pouyanne, CNBC's Dan Murphy, Donald Trump
Organizations:
CNBC, Energy Information Administration, French, U.S, Republican
Locations:
U.S, Saudi Arabia, Abu Dhabi