Ever since the 1973 Arab oil embargo prompted long lines at gas stations and helped tip the U.S. into recession, energy independence has been an elusive national goal.

So it might surprise you to learn that the United States is now closer to achieving energy independence than at any time since the 1950s.

As Bloomberg News reports, the U.S. met about 81 percent of demand through domestic sources for the first 10 months of 2011. Oil production is at its highest level in eight years, and natural gas is so plentiful the price has plunged more than 80 percent since 2008.

Consuming less foreign oil means the nation isn’t as beholden to the Mideast, giving the U.S. a freer hand in its foreign affairs and defense policy.

The bonus is that energy independence also creates jobs, increases wages and government revenue, and reduces the trade deficit. If this pace keeps up, the U.S. could cut oil imports by 4 million barrels a day by 2020, shaving $145 billion off the $513 billion U.S. trade deficit.

It’s a heady accomplishment, achieved through higher fuel-efficiency standards and a mix of Obama administration policies that encourage both oil and gas production and renewable fuel use.

But energy independence could also weaken the national resolve to embrace clean energy.

Dependence on fossil fuels, even if produced domestically, risks squandering a decade of renewable-energy investments. It also means losing ground in the fight against global warming.

Lower natural gas prices and abundant supplies of coal make it difficult for solar and wind startups to compete on price. Clean-energy companies say they can go toe-to-toe in the marketplace, but only if fossil fuels reflect the environmental cost of carbon emissions.

With the U.S. and other large economies preoccupied by economic recovery, putting a price on carbon pollution is probably years away.

Still, this is an opportune moment – in the same way that fixing the roof is best done when the sun is shining – to make sure renewable energy companies thrive. The Obama administration should, for example, continue to underwrite the development of solar, wind and nuclear energy with research grants and loan guarantees. We’re no fan of subsidies, and we aren’t comfortable with the idea of bureaucrats picking winners and losers. But there’s little doubt fledgling companies with smart ideas and limited access to capital need government help to propel their technology from concept to reality. Without it, they will surely disappear.

As we’ve said in the past, the U.S. should support research on clean energy and direct small amounts of money to early-stage researchers at labs and universities.

Obama’s 2013 budget includes several promising initiatives, including $2.3 billion for renewable energy R&D, a 25 percent increase from 2012.

Being on the cusp of energy independence is truly an impressive feat, but the U.S. can’t afford to be complacent.