SPR Not Designed to Lower Oil Prices: Schork

The video discusses the Strategic Petroleum Reserve (SPR) and its limited impact on oil prices, as it was not designed to lower prices but to mitigate short-term disruptions. It highlights the profits of oil companies, noting that their profit margins are in line with other industries. The video also addresses challenges in US domestic oil production, including increased permit costs and the need for positive rhetoric from the administration to encourage investment.

What was the response of the Biden administration regarding oil company profits?

What challenges do domestic oil producers face in terms of investment and permits?