Business: Impact of Dozen-Digit Spending

Rather like building a new Saudi Arabia in the U.S.

Even if Congress rejects some parts of Jimmy Carter's ambitious new design, the rising price of petroleum seems destined to awaken the nation from its energy stupor. As the cost of crude climbs, more and more technologies—some of them new and exotic, others as familiar as moonshine stills and windjammer sailing ships—are beginning to come on stream to conserve fuel and produce energy for the 1980s from unconventional sources. Clever inventors and canny investors see prospects of becoming instant energy millionaires. Long stagnant...

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