H.R. 10262 — 21st Century SPR Act

This section directs the Secretary of Energy to request a report from the National Petroleum Council within 90 days of enactment. The report, due within one year and made publicly available, must analyze opportunities to modernize the Strategic Petroleum Reserve to respond to supply shocks—including expanding geographic distribution and storage capacity, adding refined petroleum products, increasing fill rates and bidirectional pipeline flow, improving resilience, and eliminating congressionally mandated sales—along with recommendations for federal agencies and Congress and an evaluation of the Life Extension II project.