With Middle East blow-ups, pipeline politics, wind farm controversies, solar industry scandals, and disputes over fracking, it's natural to think that the energy policy debate is at its most intense ever. But it's easy to forget that energy issues dominated the nation's politics in the 1970s as well. Wars were fought, political careers made and unmade, and fortunes gambled and lost, all because of the vagaries of energy production and consumption, which held the American public and its politicians in thrall.

This historical investigation focuses exclusively on American energy policy in...