(CNSNews.com) - Going off script on Tuesday night, President Joe Biden prompted incredulous laughter from Republicans when he recounted his conversation with oil company executives.

He was talking about the "outrageous" profits earned by oil companies last year, and he complained that oil companies are investing too little of that profit into oil 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 were still laughing.)

"We're going to need it -- production," Biden said. "If they had in fact invested in the production to keep gas prices down -- instead they used the record profits to buy back their own stock, rewarding the CEOs and shareholders. Corporations ought to do the right thing."

Rep. Ryan Zinke (R-Mont.) explained why Republicans laughed at Biden's remark:

“Well, to suggest we're not going to be in the fossil fuel world more than ten years is just untruthful," Zinke told CNN Wednesday morning.

"Because it was an outrageous statement. Fossil fuels are with us and a part of the economy, and they're going to be with this economy.

“But to blame the problem on the executives -- Look, we have high energy costs. It's not because of the oil companies. It is because of the policy of the president. We have high inflation, because it's the policy of the president on spending.

"So if you look at high energy cost, which we're all seeing, high inflation rates, which a lot of it is a result of an excess of spending, then we are in the economy we are.

“And I think that the speech itself, there was moments where accommodation -- we're going to work with the Republican side, and I appreciate that. And he is my president, too. So I do appreciate that. But there were some blatant mistruths there."