Sec. 104. SPR Petroleum Account
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Section 167 of the Energy Policy and Conservation Act ( 42 U.S.C. 6247 ) is amended— in subsection (b)— by striking the acquisition, transportation, and injection of petroleum products into the Strategic Petroleum Reserve, for test sales of petroleum products from the Reserve, and for the drawdown, sale, and delivery of petroleum products from the Reserve and inserting covered activities ; and in paragraph (3), by striking the receipts to the United States from the sale of petroleum products in any drawdown and distribution of the Strategic Petroleum Reserve under section 161, including a drawdown and distribution carried out under subsection
(g)of such section, or from the sale of petroleum products under section 160(f) and inserting covered receipts ; in subsection (d), by striking the sale of petroleum products in any drawdown and distribution of the Strategic Petroleum Reserve under section 161, including a drawdown and distribution carried out under subsection
(g)of such section, and from the sale of petroleum products under section 160(f) and inserting covered sales ; and by adding at the end the following: In this section: The term covered activity means— the acquisition, transportation, and injection of petroleum products into the Strategic Petroleum Reserve; the sale of petroleum products in any drawdown and distribution of the Strategic Petroleum Reserve under section 161, including a drawdown and distribution carried out under subsection
(g)of such section; the sale of petroleum products under section 160(f); an activity under part D; and an activity under part E. The term covered sale means— the sale of petroleum products in any drawdown and distribution of the Strategic Petroleum Reserve under section 161, including a drawdown and distribution carried out under subsection
(g)of such section; the sale of petroleum products under section 160(f); the sale, exchange, or other disposition of petroleum distillate from the Northeast Home Heating Oil Reserve; and the sale, exchange, or other disposition of gasoline or diesel fuel from a Strategic Refined Petroleum Product Reserve. The term covered receipts means— receipts to the United States from the sale of petroleum products in any drawdown and distribution of the Strategic Petroleum Reserve under section 161 (including a drawdown and distribution carried out under subsection
(g)of such section), less amounts equal to any amounts appropriated by subsection (k)(2) of such section; receipts to the United States from the sale of petroleum products under section 160(f); receipts to the United States from the sale, exchange, or other disposition of petroleum distillate from the Northeast Home Heating Oil Reserve; and receipts to the United States from the sale, exchange, or other disposition of gasoline or diesel fuel from a Strategic Refined Petroleum Product Reserve. . The assets and liabilities of the Northeast Home Heating Oil Reserve Account established in the Treasury under section 184 of the Energy Policy and Conservation Act ( 42 U.S.C. 6250c ), as in effect on the day before the date of enactment of this Act, are hereby transferred to the SPR Petroleum Account established in the Treasury under section 167 of the Energy Policy and Conservation Act ( 42 U.S.C. 6247 ), and such Northeast Home Heating Oil Reserve Account is hereby abolished.
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