Biden complained oil companies are investing too little of their profits into production. "And
when I talk to a couple of them, they say, we're afraid you're going to shut down all the oil wells, all the oil refineries anyway, so why should we invest in them? "I said, we're going to need oil for at least another decade--" The Republican side of the chamber erupted in laughter. "And beyond that," Biden added. (Republicans still laughing.)