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 authority, to prohibit the President from using section 232(b) of the Trade Expansion Act of 1962 or any other provision of law to establish such minimum prices without congressional authority.

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 impact of such amendment upon the price of energy products and domestic production and the consumption of energy.

Expresses the sense of Congress that the President should not enter into any formal international agreement having the effect of establishing a price floor on crude oil, residual fuel oil, or any refined petroleum product until such time as the Congress grants him the authority to enter into it.