In 1980, the American Petroleum Institute published the first edition of "Two Energy Futures." It described the U.S. energy experience of the 1970s and prospects for the 1980s, concluding that the nation could drastically reduce its dependence on uncertain sources of imported oil if the right choices were made by individuals and the government. This edition continues to examine the national energy picture: progress made and what remains to be done. Information is presented in 10 chapters. Introductory material, including discussions of energy developments during 1950s to 1980s and policy choices for the 1980s, is presented in the first chapter. Areas addressed in the remaining nine chapters include: oil and natural gas; coal; nuclear energy; synthetic fuels and renewable energy; energy conservation; energy and the environment; government lands (as a source of energy); economic benefits of reducing imports; and individual benefits of energy security. Footnotes for and sources of graphs presented in each chapter and bibliography are included in an appendix. Among the findings reported are those indicating that, despite considerable domestic energy progress and the adequacy of current world oil supplies, the long-term U.S. energy outlook remains unsettled and threatened by complacency. (JN)