Energy Policy and Conservation Act Amendments of 1990

Energy Policy and Conservation Act Amendments of 1990 - Amends the Energy Policy and Conservation Act to extend all authorities granted under such Act through FY 1994. Authorizes the Secretary of Energy (the Secretary) to draw down and distribute the Strategic Petroleum Reserve (SPR) if the President finds that a significant domestic energy supply shortage exists. Sets forth draw down limitations. Requires the Secretary to transmit monthly accounts to the Congress during any period in which such draw down and distribution is in effect. Limits any draw down to 60 days. Requires the Secretary to: (1) report to certain congressional committees by a specified deadline with respect to the status of proposals on the supplementary oil reserve; and (2) amend the SPR Plan to prescribe plans for completion of storage of one billion barrels of petroleum products in the Reserve. Extends to FY 1994 the period during which the President must implement petroleum acquisition, transportation, and injection activities until the quantity of crude oil in storage within the Reserve is at least such amount. Authorizes the Secretary to suspend acquisition and injection of petroleum products intended for the SPR, and to sell any such product not yet injected, if the Secretary finds that a severe energy supply interruption may be imminent. Sets forth conditions under which the Secretary may contract for the storage of petroleum products that are not owned by the United States. Provides for congressional review of such contracts if no implementing legislation has been needed. Sets forth congressional procedures for petroleum storage contracts for which implementing legislation is needed. Directs the Secretary to conduct, and report to the Congress on, a two-year demonstration program regarding mechanisms for storing refined petroleum products within the SPR. Authorizes the Secretary to implement a test draw down and distribution through the sale or exchange of a maximum of 5,000,000 (currently 1,100,000) barrels of SPR crude oil. Exempts any U.S.-owned or -leased SPR storage or related facility from the Interstate Commerce Act. Authorizes the President to permit petroleum products withdrawn from the SPR to be refined or exchanged outside the United States in connection with an agreement for the delivery of refined petroleum products to the United States. Authorizes the Secretary to amend the SPR Distribution Plan. Requires transmittal of any such amendments to the Congress with an accompanying explanatory statement.

Strategic Petroleum Reserve Amendments of 1990 - Amends the Energy Policy and Conservation Act to extend from August 15, 1990, to December 31, 1994, authorities relating to domestic energy supply availability. Authorizes the Secretary of Energy (the Secretary) to take the following actions upon finding that a severe energy supply interruption may be imminent: (1) suspend acquisition and injection of petroleum products destined for the Strategic Petroleum Reserve (SPR); and (2) sell any petroleum product not yet injected into the SPR. Sets forth a fill-rate reduction formula for any fiscal year in which petroleum product purchases are suspended or in which petroleum product sales are consummated. Prescribes guidelines under which the Secretary is authorized to draw down and distribute the SPR if the President finds that a national or regional energy emergency is imminent. Grants the Secretary additional authority to enter into agreements to acquire petroleum products for SPR storage. Subjects such agreements to congressional approval. Directs the Secretary to: (1) provide that until there are 20,000,000 barrels of refined petroleum product in the SPR, at least ten percent of the total petroleum products acquired for it shall be refined; and (2) contract for storage facilities in those regions that are most dependent upon imported petroleum. Precludes the Secretary from acquiring or storing refined petroleum if such storage would exceed twice the cost of storing a comparable amount of crude oil. Directs the Secretary to provide that the refined petroleum acquired for the SPR increases the total amount of such product available to reduce the impact of any refined petroleum supply disruption, rather than merely transferring ownership or control of the product acquired. Authorizes the Secretary to implement a test draw down and distribution through the sale or exchange of a maximum of 5,000,000 (currently 1,100,000) barrels of SPR crude oil. Provides that for purposes of establishing regional petroleum reserves any State that is an island shall be considered a separate Federal Energy Administration Region. Directs the Secretary to report to the Congress the results of a study to determine: (1) the feasibility of exporting drawndown SPR crude oil in exchange for either a foreign refined petroleum product or for the purpose of having it refined outside the United States for consumption of the resulting product in the United States; and (2) the feasibility of establishing regional petroleum reserves with Federal and non-Federal funding.

Energy Policy and Conservation Act Amendments of 1990 - Amends the Energy Policy and Conservation Act to extend all authorities granted under such Act through FY 1993. Requires the Secretary of Energy to: (1) report to certain congressional committees within a specified deadline with respect to the status of proposals on the supplementary oil reserve; and (2) amend the Strategic Petroleum Reserve (SPR) Plan to prescribe plans for completion of storage of one billion barrels of petroleum products in the Reserve. Extends to FY 1993 the period during which the President must implement petroleum acquisition, transportation, and injection activities until the quantity of crude oil in storage within the Reserve is at least such amount. Outlines the energy supply disruption conditions under which the execution of new petroleum contracts for the SPR may be temporarily halted. Declares that it is U.S. policy to encourage supplementation of the SPR and other domestic petroleum product stocks by contracting for Supplementary Oil Reserve storage in domestic and foreign facilities. Authorizes the Secretary to contract for Supplementary Oil Reserve storage in non-SPR facilities and otherwise unused SPR facilities of petroleum products owned by any person or government. Subjects such stored products to the Secretary's existing draw down and distribution authority. Provides that upon conclusion of a contract with a foreign government the President may permit the export of crude oil which has been stored under it. Exempts any U.S.-owned-or -leased SPR storage or related facility from the Interstate Commerce Act. Authorizes the President to permit petroleum products withdrawn from the SPR to be refined or exchanged outside the United States in connection with an agreement for the delivery of refined petroleum products to the United States.

Energy Policy and Conservation Act Amendments of 1990 - Amends the Energy Policy and Conservation Act to extend all authorities granted under such Act through FY 1993. Requires the Secretary of Energy to: (1) report to certain congressional committees within a specified deadline with respect to the status of proposals on the supplementary oil reserve; and (2) amend the Strategic Petroleum Reserve (SPR) Plan to prescribe plans for completion of storage of one billion barrels of petroleum products in the Reserve. Extends to FY 1993 the period during which the President must implement petroleum acquisition, transportation, and injection activities until the quantity of crude oil in storage within the Reserve is at least such amount. Outlines the energy supply disruption conditions under which the execution of new petroleum contracts for the SPR may be temporarily halted. Declares that it is U.S. policy to encourage supplementation of the SPR and other domestic petroleum product stocks by contracting for Supplementary Oil Reserve storage in domestic and foreign facilities. Authorizes the Secretary to contract for Supplementary Oil Reserve storage in non-SPR facilities and otherwise unused SPR facilities of petroleum products owned by any person or government. Subjects such stored products to the Secretary's existing draw down and distribution authority. Provides that upon conclusion of a contract with a foreign government the President may permit the export of crude oil which has been stored under it. Exempts any U.S.-owned-or -leased SPR storage or related facility from the Interstate Commerce Act. Authorizes the President to permit petroleum products withdrawn from the SPR to be refined or exchanged outside the United States in connection with an agreement for the delivery of refined petroleum products to the United States.

Energy Policy and Conservation Act Amendments of 1990 - Amends the Energy Policy and Conservation Act to extend all authorities granted under such Act through FY 1993. Directs the Secretary of Energy to amend the Strategic Petroleum Reserve (SPR) Plan to prescribe plans for completion of storage of one billion barrels of petroleum products in the Reserve. Extends to FY 1993 the period during which the President must implement petroleum acquisition, transportation, and injection activities until the quantity of crude oil in storage within the Reserve is at least such amount. Outlines the energy supply disruption conditions under which the execution of new petroleum contracts for the Strategic Petroleum Reserve may be temporarily halted. Declares that it is U.S. policy to encourage supplementation of the Strategic Petroleum Reserve and other domestic petroleum product stocks by contracting for Supplementary Oil Reserve storage in domestic and foreign facilities. Authorizes the Secretary to contract for Supplementary Oil Reserve storage in non-SPR facilities and otherwise unused SPR facilities of petroleum products owned by any person or government. Subjects such stored products to the Secretary's existing drawdown and distribution authority.