A bill to amend the Energy Policy and Conservation Act to improve the financing of the Strategic Petroleum Reserve.

Amends the Energy Policy and Conservation Act to establish the SPR Petroleum Acquisition Account (the Account) in the Treasury.

Directs the Secretary of the Treasury (Secretary) to deposit into the Account: (1) any funds appropriated for petroleum acquisition for the Strategic Petroleum Reserve (the Reserve) before enactment and which are unexpended; (2) receipts from the sale of petroleum products in any drawdown and distribution; (3) any proceeds from the sale of Federal royalty oil transferred to the Account under the Energy Security Act; and (4) any interest earned on funds in the Account. Directs the Secretary to provide the Account with the funds necessary for acquisition, transportation, and injection of petroleum products for the Reserve.

Authorizes appropriations to the Secretary of Energy for fiscal year 1982 for the purposes of carrying out petroleum product acquisition, transportation, and injection activities. Provides that after fiscal year 1982 amounts in the Account shall be available only to the extent provided in advance in appropriation Acts pursuant to authorizations of appropriations.

Prohibits the use of Account funds for certain purposes. Requires Secretary to invest excess Account funds.

Amends the Energy Security Act to direct that proceeds from the sale of Federal royalty oil and from the sale of certain entitlements be transferred to the Account.

Directs the Secretary of Energy to report to the President and Congress: (1) annually regarding the financial status of the Account; and (2) with an analysis of the costs and benefits associated with achieving the final storage level set forth in the strategic Petroleum Reserve Plan.