Sauté bacon in heavy large saucepan over medium heat until brown and crisp, about 10 minutes. Using slotted spoon, transfer bacon to paper towels to drain. Pour off all but 3 tablespoons bacon fat. Add onion to drippings in saucepan and sauté until beginning to soften, about 3 minutes. Add potatoes and stir until coated. Add clam juice; bring to boil. Reduce heat to medium-low, cover, and simmer 10 minutes.