Strategic Petroleum Reserve Modernization Act of 2015

This bill directs the Department of Energy to:

• evaluate the international obligations that gave rise to the establishment and maintenance of the Strategic Petroleum Reserve (SPR);
• analyze changes in energy security infrastructure since the establishment of the SPR, including changes in the distribution infrastructure and the integrity of the salt caverns associated with the SPR;
• estimate the costs of completing deferred maintenance for the SPR;
• estimate the costs of life extension spending for SPR infrastructure nearing the end of its design life; and
• evaluate the size of the SPR as of the date of the study, based upon current and projected oil supply and demand.