The 21st Century SPR Act directs the Secretary of Energy to ask the National Petroleum Council (NPC) for a public report on modernizing the Strategic Petroleum Reserve (SPR). The NPC must deliver the report to the Secretary and Congress within one year of the request. The report must analyze ways to improve the SPR’s physical infrastructure and operations to respond to petroleum product supply shocks. Required topics include expanding geographic distribution, adding storage for refined petroleum products, eliminating congressionally mandated SPR sales, creating storage that can handle recent drawdown volumes and frequencies, expanding overall storage capacity, encouraging purchases to replenish the SPR when prices are low, increasing the SPR's fill rate, and improving bidirectional pipeline flow capability. The report must also analyze the Life Extension II project, including work that was originally planned but not completed. The Secretary must request the NPC within 90 days of the law taking effect, and the NPC must make the report publicly available.
You can expect a public, detailed report on options to change how and where the SPR stores oil and refined products and how it moves those products. The report may include recommendations for federal agencies and Congress, but this Act itself only requires the study and public release — it does not directly change SPR operations or funding.
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