1994 Oldsmobile 98 E-Brake Stuck

Do you have rear disc or drum brakes?

This is common. From the beginning these models had brake issues first with the brake not holding. Second with the front caliphers failing. Final solution of the brilliant GM Engineers gave you the brake that won't release. Solution: Because the placement of the brake itself and the angle and limited contact area it is almost impossible to disengage once it the pedal is at the lowest. You need 2 people to pull this off: Person 1 sit in the driver seat start the car put it in drive and apply the regular brakes. Person 2 gets a sturdy louisville slugger baseball bat and opens the driver's door positioning themselves outside the car. Person 2 places the handle of the baseball bat end flat against the parking brake pedal. Make sure it does not slip off and then from outside the car person 2 can easily get enough leverage to disengage the damn brake. Step 2; DONT USE THE PARKING BRAKE!! The baseball bat should work but if not you already have something to find the GM rocket scientist who invented this crap and beat the living Hell out of them.

Great humor. However, it sounds dangerous. If the rear brakes are drum brakes, there is a self adjuster that can be tuned all the way down which will release the drum.