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Authorizes the President to permit petroleum products withdrawn from the SPR to be refined or exchanged outside the United States in connection with an agreement for the delivery of refined petroleum products to the United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.