A bill for the establishment of a Council on Energy Policy.

Creates in the Executive Office of the President a Council on Energy Policy. Requires the Council to develop a long range, comprehensive plan for energy utilization, and to provide assistance to any executive agency concerned with energy and power in the United States. Sets forth the administrative powers and functions of the Council.

Provides for an annual Energy Report by the President to the Congress, including: (1) an estimate of energy needs for the ensuing ten year period; (2) an estimate of the domestic and foreign energy supply on which the United States will be expected to rely to meet such needs in an economical manner; (3) current and foreseeable trends in the quality, management, and utilization of energy resources; and (4) recommendations for the development and application of new technologics and practices required to meet these objectives.

Authorizes to be appropriated $300,000 for fiscal year 1974, $750,000 for fiscal year 1975, and $1,000,000 for each fiscal year thereafter for purposes of this Act.