A bill to create a select committee to make investigations and studies relating to natural gas and petroleum reserves.

Establishes a select committee of members of the House of Representatives to conduct a full and complete investigation and study of: (1) the nature and extent of natural gas and petroleum reserves within the United Staes, including the Outer Continenatal Shelf; (2) the potential for discovery of new reserves; (3) the relationship of such reserves to present patterns of distribution and supply; (4) the impact of price regulations on the discovery and reporting of such reserves; and (5) the means by which the reporting of such reserves may be improved.

Sets forth the authority and powers of the committee.

Directs the committee to file an interim report six months after it is established, and a final report at the end of one year, on the results of its investigation and study.