STRATEGIC PETROLEUM RESERVE.

SEC. 306. STRATEGIC PETROLEUM RESERVE.(a) Repeal of Authority To Acquire In-Kind Royalty Crude Oil.—Section 160(a) of the Energy Policy and Conservation Act (42 U.S.C. 6240(a)) is amended to read as follows:“(a) The Secretary may acquire, place in storage, transport, or exchange petroleum products acquired by purchase or exchange.”.(b) Rescission of Funds.—Any unobligated balances available in the SPR Petroleum Account in the Treasury on the date of enactment of this section are permanently rescinded.