A bill to amend the Economic Stabilization Act of 1970 to make mandatory the systematic allocation of petroleum products in accordance with the procedures established under that act.

Requires the President to exercise his authority, under the Economic Stabilization Act of 1970, to mandatorily allocate petroleum products on the thirtieth day following enactment of this Act. Requires the President to report to the Congress within fifteen days of enactment on the plan to be used for such allocation.