Resolution proposing the establishment of national energy program.

Expresses the sense of the House that the United States is committed to an energy pricing, import, and tax policy which will: (1) limit the price of all new domestic crude oil to a level that reflects its long-term supply price (no more than $7 to $8 per barrel) rather than the dictates of the OPEC cartel as a major element in a concerted effort to control exorbitant prices, reduce domestic inflation, and prevent unreasonable profits by exporter governments and United States companies alike; and (2) reduce imports of high-cost foreign oil by one million barrels per day, and thereby combat inflation, and cut over $4,000,000,000 from our balance-of-payments deficit.

Declares that the United States should adopt legislation which will: (1) extend the Emergency Petroleum Allocation Act; and (2) mandate a program of international and domestic contingency planning to deal with energy shortages at home and abroad.

Declares that the United States should adopt a national energy conservation policy which will include mandatory provisions designed to: (1) result in a 30 percent improvement in automobile mileage in the 1976 model year and a 100 percent improvement by 1980; and (2) commit the Nation to greater investment in a broadened mass transit program.

Expresses the sense of the House that the United States is committed to an energy production policy, energy research and development program, the creation of an Energy Research and Development Administration to administer the energy research and development effort, and a program of Federal, State, and local cooperation on these problems.