Former Clinton Treasury Secretary Larry Summers told CNBC on Thursday the U.S. would benefit economically and on the world stage by staying in the Paris climate accord.

Summers said on "Squawk Box" he "never imagined" an administration that's "way to the right of Exxon on a fossil fuel issue."

The oil giant has reiterated its support of the Paris deal ahead of President Donald Trump's expected announcement Thursday afternoon to pull out of the climate agreement.

Secretary of State and former Exxon CEO Rex Tillerson has advocated staying in the agreement, which involves nearly 200 countries. Only Syria and Nicaragua are not part of the accord.

"How can it be the right thing for the United States to create a world where there are two clubs: Everybody else and the United States, Syria, and Nicaragua?" Summers asked.