To adapt to changing crude oil market conditions.

Amends the Energy Policy and Conservation Act to repeal authority to restrict the export of: (1) coal, petroleum products, natural gas, or petrochemical feedstocks; and (2) supplies of materials or equipment necessary to maintain or further exploration, production, refining, or transportation of energy supplies, or for the construction or maintenance of energy facilities within the United States.

Prohibits any federal official from imposing or enforcing any restriction on the export of crude oil.

Requires the Secretary of Energy to study and make recommendations on the appropriate size, composition, and purpose of the Strategic Petroleum Reserve.