Joint resolution to amend the Emergency Petroleum Allocation Act of 1973 to prohibit the President from setting minimum prices for crude oil, residual fuel oil, or any refined petroleum product without congressional review.

Prohibits, under the Emergency Petroleum Allocation Act of 1973, the President from setting minimum prices for crude oil, residual fuel oil, or any refined petroleum product without congressional review.

Requires that amendments to such Act be subject to congressional approval and be supported by a report from the President as to the need for the proposed amendment and the impact of such amendment upon: (1) the price of energy products, domestic production and consumption of energy; and (2) the cost of living and the economy. Directs the President to furnish reasonable alternatives to the proposed amendment.