A bill to amend the Emergency Petroleum Allocation Act of 1973 to extend price controls on domestically produced crude oil for a period of twenty-four months.

Amends the Emergency Petroleum Allocation Act of 1973 to extend price controls on domestically produced crude oil for a period of 24 months. Directs the President to promulgate and make effective an amendment to such Act which would continue ceiling prices applicable to any first sale of domestic crude oil for such period.