21st Century SPR Act

The 21st Century Strategic Petroleum Reserve Act mandates that the Secretary of Energy request a comprehensive report from the National Petroleum Council within 90 days of the bill's enactment. This report, due within one year of the request, will analyze opportunities to significantly improve and modernize the Strategic Petroleum Reserve's physical infrastructure and operational capabilities to better respond to petroleum product supply shocks. The analysis must cover expanding the SPR's geographic distribution, including storage of refined petroleum products, eliminating congressionally mandated sales, and creating more resilient facilities for frequent drawdowns. It also requires examining ways to expand storage capacity, encourage replenishment during low prices, and increase both the fill rate and bidirectional pipeline flow. Additionally, the report will evaluate the Life Extension II project and provide specific recommendations for federal agencies and Congress to enhance the SPR's modernization.