How do I make a bootable OS X Lion Flash Drive?

Steve Alexander

New member
WHAT I HAVE: a new MacBook Air with OS X Lion pre-installed by Apple, no OS CD/DVD and no copy of Lion except as installed on the internal hard drive; and a 32 GB USB 2.0 Flash Drive formatted as it came from the manufacturer.

WHAT I WANT: a bootable USB Flash Drive with Lion installed for use in case of an emergency if I should be unable to boot from the internal hard drive. I also want a bootable USB Install Drive from which I could re-install Lion if needed. Perhaps these two are really one-in-the-same.

MY QUESTION: Can I get there from here? If so, how? Or should I just buy Apple's $69 bootable USB Thumb Drive with Lion installed?
 
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