**
I review perturbative and non-perturbative aspects of the QCD
description of inclusive B-meson decay spectra, including the
application of the Operator Product Expansion, the summation of
perturbation theory, and the role of the quark distribution
function. I discuss the relevance of operators composed of Wilson
lines, and compare the analysis of inclusive B decay with that of
deep inelastic structure functions.
**

**The focus of the discussion is the calculation of B-decay
spectra near the endpoint, which is experimentally most important,
but theoretically most difficult as it requires the resummation of
Sudakov logarithms as well as parametrically-large power
corrections. I show that consistent treatment of these power
corrections requires renormalon resummation in the Sudakov
exponent (Dressed Gluon Exponentiation). An application of the
method to the photon energy spectrum in radiative B decay leads to
new results.
**

**
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