Mandatory Energy Conservation Act

Mandatory Energy Conservation Act - Title I: Rationing - Requires the President, under the Emergency Petroleum Allocation Act of 1973, to promulgate and put into effect within 90 days a rule providing for the establishment of a program for the rationing of gasoline which shall include, but not be limited to, a gasoline rationing program which would prohibit the use of each private motor vehicle covered by such program in the United States for at least one twenty-four hour calendar day period in each and every seven calendar day period following the effective date of such rule.

Provides that each individual subject to such program shall be entitled to select the twenty-four hour period during which his vehicle shall be prohibited from utilizing highways.

Directs the Federal Energy Administrator, within 60 days of the enactment of this Act, to submit to the Congress and the Governor of each States plans for the implementation and administation of such rationing program, including cost analysis.

States that the rationing program established pursuant to this Act shall terminate on December 31, 1980, unless the Congress shall otherwise provide by law.

Title II: Petroleum Import Quotas - States that beginning 90 days after the enactment of this title, no crude oil, residual fuel oil, and refined petroleum products shall be imported into the United States except pursuant to a license issued by the Secretary of Commerce and in accordance with quota limitations established by this title.

Directs that the quantity of crude oil, residual fuel oil, and refined petroleum products which is imported into the United States not exceed (1) an average of 5,500,000 barrels per day of crude oil and the crude oil equivalency of residual fuel oil and refined petroleum products during calendar year 1976, (2) an average of 5,000,000 barrels per day of such oil and products during each of the calendar years 1977, 1978, and 1979, and (3) an average of 3,500,000 barrels per day of such oil and products during calendar year 1980.

Requires the Secretary of Commerce, within 60 days of the enactment of this title, to submit to the Congress a report setting forth a schedule of import quota limitations as required by this title. Directs that such report include an economic impact statement detailing the possible effects of the import restrictions.

Title III: Allocation of Crude Oil, Residual Fuel Oil, and Refined Petroleum Products - Directs the Administrator of the Federal Energy Administration to make such adjustments of mandatory allocations of crude oil, residual fuel oil, and refined petroleum products as necessary by reason of the enactment of this Act.

Requires the Administrator to submit to the Congress and the governors of States information relative to allocations of crude oil, residual fuel oil, and refined petroleum products, including information specifying individual State shares with respect to gasoline, residual fuel oil, distillate oil and refined petroleum products through the calendar year 1976.

Title IV: Miscellaneous - States that the regulations promulgated and made effective under the Emergency Petroleum Allocation Act of 1973 shall not terminate except as the Congress may by law provide.