Expressing the sense of the House of Representatives that the President should immediately communicate to the members of the Organization of Petroleum Exporting Countries (OPEC) cartel and non-OPEC countries that participate in the cartel of crude oil producing countries the position of the United States that urgent action must be taken to increase world crude oil supplies so as to achieve stable crude oil prices, and for other purposes.

Expresses the sense of the House of Representatives that the President and Congress should take both a short-term and a long-term approach to reducing and stabilizing crude oil prices as well as reducing dependence on foreign sources of energy.

Urges the President to communicate immediately to the members of the Organization of Petroleum Exporting Countries (OPEC) cartel and non-OPEC countries that participate in the cartel of crude oil producing countries that the United States: (1) seeks to maintain strong relations with crude oil producers around the world while promoting international efforts to remove barriers to energy trade and investment and increased access for U.S. energy firms around the world; (2) believes that restricting supply in a market that is in demand for additional crude oil does serious damage to OPEC member efforts to demonstrate that they represent a reliable source of crude oil supply; (3) believes that stable crude oil prices and supplies are essential for strong economic growth throughout the world; (4) seeks an immediate increase in the OPEC crude oil production quotas; and (5) will temporarily suspend further purchases of crude oil for the Strategic Petroleum Reserve, thereby freeing up additional supply for the marketplace.

Expresses the sense of the House of Representatives that: (1) the actions and policies of the Administration with respect to energy should be transparent; and (2) the President should further review all administrative policies, programs, and regulations that put an undue burden on domestic energy producers, and consider new legislative policies aimed at increasing the ability of the domestic energy industries of the United States to supply a greater percentage of U.S. energy needs.

Urges the House of Representatives to appropriate sufficient funds for the development of domestic energy sources, including measures to increase the use of renewable energy resources and emerging technologies that could increase energy efficiency and reduce overall energy consumption.