![President Biden Delivers State Of The Union Address [Screenshot/Rumble/State of the Union Address]](https://images.dailycaller.com/image/width=960,height=411,fit=cover,f=auto/https://cdn01.dailycaller.com/wp-content/uploads/2023/02/Screen-Shot-2023-02-07-at-22.59.14-e1675828782967.png "President Biden Delivers State Of The Union Address [Screenshot/Rumble/State of the Union Address]")
House and Senate Republicans burst into laughter at President Joe Biden’s remark about oil at Tuesday’s State of the Union Address.
The president made the remark over oil producers’ concerns that the administration will shut down their refineries. Republicans, including House Speaker Kevin McCarthy, immediately started laughing.
“We’re gonna need oil for at least another decade,” Biden said, leading to laughter among the crowd. “And beyond that. We’re gonna need it, production. If they had in fact invested in the production to keep gas prices down, instead, they used their record profits to buy back their own stock, rewarding the CEOs and shareholders.”
The Biden administration has urged oil producers to increase refinery output in an effort to produce more oil and ultimately reduce gas prices. Simultaneously, the administration halted the leases of oil and gas drilling on federal lands and scrapped the construction of the Keystone XL pipeline, which was intended to carry over 800,000 barrels of oil per day. (RELATED: Biden Repeats Misleading Claim About Deficit)
House Republicans earlier in 2023 introduced legislation to prohibit President Joe Biden from selling oil from the U.S.’ Strategic Petroleum Reserve (SPR) to China and another to prohibit non-emergency releases from the SPR unless the administration increases domestic oil and gas production.