ENERGY AND ECONOMY IN THE UNITED STATES SINCE THE ENERGY CRISIS Mao Yushi (28) The essay discusses U.S. energy production and consumption, its relations with the world market and the changes of U.S. energy structure in response to energy price fluctuations since 1973. It is argued that the policy of oil price regulation failed to solve the energy problem in the mid-70s, and that as long as the United States maintains a flexible economic structure, it would help prevent a third world energy crisis in the future.