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Low-cost energy has been an integral part of American economic history, but is gone for the present. The European experience has shown that with not much lower levels of per capita income, much lower per capita energy consumption is possible. The present situation with tight supplies and rising prices did not begin with the Arab embargo. A history is followed of the situations that lead up to the 1973 oil embargo. New techniques for the future include oil extractions from bituminous sands and shale, nuclear reactors, harnessing of geothermal and solar energy, and clean burning from coal. Environmental concerns and import independency are discussed. (MCW)