A bill expressing the sense of the Congress that the President should act immediately to reduce the power of the Organization of Petroleum Exporting Countries to control the supply and price of oil and should act to reduce the vulnerability of the United States to cutoff or decrease of oil supplied by the member countries of the Organization.

Expresses the sense of Congress that the President should: (1) act to reduce the power of the Organization of Petroleum Exporting Countries (OPEC) to control the supply and price of oil; (2) accelerate the development of a Strategic Petroleum Reserve and require oil companies to increase privately held reserves; (3) develop energy resources on Government-owned land and in non-OPEC countries; (4) encourage competition in oil marketing and distribution; (5) sue OPEC under United States antitrust laws; (6) negotiate for a specific facility to recycle current account surpluses in the International Monetary Fund; (7) negotiate for a licensing procedure to limit spot market prices; and (8) prevent marketing practices which discriminate against gasohol and other synthetic fuels.