Biden Orders Huge Release of Oil From Reserves

The video discusses the issue of unused oil production permits on federal lands and introduces a 'use it or lose it' policy to encourage companies to either start production or pay fees. It also outlines a plan to release 1 million barrels of oil per day from the Strategic Petroleum Reserve over six months to bridge the gap until production increases. This release is coordinated with international allies to counteract energy threats and stabilize supply.

What is the main objective of the 'use it or lose it' policy?

• To allow companies to hoard public land

• To reduce the number of federal leases

• To make companies pay fees for unused wells

• To encourage companies to sell their unused permits

How many barrels per day are planned to be released from the Strategic Petroleum Reserve?

• 2,000,000 barrels

• 1,000,000 barrels

• 500,000 barrels

• 750,000 barrels

What is the purpose of releasing oil from the Strategic Petroleum Reserve?

• To stop oil production on federal lands

• To decrease oil prices permanently

• To provide a temporary increase in oil supply

• To permanently increase oil supply

Which of the following is a goal of the international cooperation in oil release?

• To deny adversaries the ability to use energy as a weapon

• To stop the use of renewable energy sources

• To increase oil prices globally

• To reduce oil production in allied countries

What is the expected outcome of the combined efforts of nations releasing oil?

• A reduction in oil reserves

• A supply of over a million barrels a day

• An increase in oil prices

• A decrease in global oil demand