,,ii  #aadth ,,congress  #ast ,session  
,s4 #abca  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,may #f1 #bjae 
,ms4 ,murkowski introduced the following
 bill2 which was read twice and referred
 to the ,committee on ,energy and       
,natural ,resources  ,a ,,bill  ,to     
require congressional notification for  
certain ,strategic ,petroleum ,reserve  
operations and to determine options     
available for the continued operation of
 the ,strategic ,petroleum ,reserve4    
#a4 ,short title ,this ,act may be cited
 as the ,strategic ,petroleum ,reserve  
,modernization ,act of #bjae4  #b4      
,strategic ,petroleum ,reserve test     
drawdown and sale notification ,section 
#afa7;g7 of the ,energy ,policy and     
,conservation ,act 7#db ,u4,s4,c4       
#fbda7;g77 is amended by striking       
paragraph 7#h7 and inserting the        
following3  7#h7 ,notice to congress    
7,a7 ,prior notice ,not less than #cj   
days before the date on which a test is 
carried out under this subsection1 the  

,secretary shall notify both ,houses of 
,congress of the test4  7,b7 ,detailed  
description  7i7 ,in general ,not later 
than #ahj days after the date on which a
 test is completed under this           
subsection1 the ,secretary shall submit 
to both ,houses of ,congress a detailed 
description of the test4  7ii7 ,report  
,a detailed description submitted under 
clause 7i7 may be included as part of a 
report made to the ,president and       
,congress under section #afe4  4  #c4   
,strategic ,petroleum ,reserve study    
7a7 ,study ,as soon as practicable after
 the date of enactment of this ,act1 the
 ,secretary of ,energy 7referred to in  
this ,act as the ,secretary7 shall      
conduct a study that--  7#a7 evaluates  
the international obligations that gave 
rise to the establishment and           
maintenance of the ,strategic ,petroleum
 ,reserve established under part ,b of  
title ,i of the ,energy ,policy and     
,conservation ,act 7#db ,u4,s4,c4 #fbca 
et seq472  7#b7 analyzes changes that   

have occurred in energy security        
infrastructure since the establishment  
of the ,strategic ,petroleum ,reserve1  
including changes in the distribution   
infrastructure and the integrity of the 
salt caverns associated with the        
,strategic ,petroleum ,reserve2  7#c7   
estimates the costs of completing       
deferred maintenance for the ,strategic 
,petroleum ,reserve2  7#d7 estimates the
 costs of life extension spending that  
is required for ,strategic ,petroleum   
,reserve infrastructure that is nearing 
the end of the design life of the       
infrastructure2 and  7#e7 evaluates the 
size of the ,strategic ,petroleum       
,reserve as of the date of the study1   
based on current and projected supply   
and demand for oil4  7b7 ,report ,not   
later than #ahj days after the date of  
enactment of this ,act1 the ,secretary  
shall submit to the appropriate         
committees of ,congress a report that   
describes--  7#a7 the results of the    
study under subsection 7a72  7#b7 the   

costs associated with maintaining the   
,strategic ,petroleum ,reserve2  7#c7   
the costs associated with extending the 
operating life of the ,strategic        
,petroleum ,reserve2 and  7#d7          
cost-effective options for1 alternatives
 to1 or structural modifications of the 
,strategic ,petroleum ,reserve that     
would adhere to1 and account for1 the   
international obligations evaluated     
under subsection 7a77#a74