Joint resolution relating to nationwide gasoline and oil shortages.

Establishes in the Executive office of the President a Council on Energy Policy, to consist of three members, appointed by the President, by and with the consent of the Senate. States that (1) the Council shall serve as the principal adviser to the President and Congress on energy policy, exercising leadership in formulating Government policy concerning domestic and international energy issues, and shall assist in developing plans and programs which take full advantage of the Nation's technological capabilities in developing clean energy and in conserving energy resources; (2) the Council shall recommend policies to Federal and State agencies respecting power emergencies; (3) the Council shall advise Federal agencies as to appropriate research and development projects; and (4) the Council shall develop a long-range, comprehensive plan for energy utilization in the United States, and shall provide assistance to any executive agency concerned with energy and power in the United States.

Requires the President to submit to the Congress an annual Energy Report.

Authorizes to be appropriated to carry out the purposes of this Act not to exceed $300,000 for fiscal year 1974, $750,000 for fiscal year 1975, and $1,000,000 for each fiscal year thereafter.