Yes! or at least kind of but probably not in the way you are thinking.
It seems that you have couple of miss-conceptions about what an orbit is so lets take it point by point.
> From my understanding it takes an incredible amount of fuel to get away from earths initial pull , but a very small amounts of energy to make nudges to spacecraft in even low orbit.
When you are in space you are still under the gravitational pull of the earth. In fact in low earth orbit the force is about 90% of what you get on earth surface! After all low earth orbit is only a couple hundred miles up when the earth is about 8 thousands miles in diameter. It makes sense that gravity wouldn't just stop so close to the surface.
So how do satellites stay in orbit then? They actually go sideways very fast. To understand it you can check out Newton's book on gravity where he drew something like [that](http://www.waowen.screaming.net/revision/force&motion/newtmtn.gif
). [Here is a more modern and clearer version](https://upload.wikimedia.org/wikipedia/commons/thumb/7/73/Newton_Cannon.svg/240px-Newton_Cannon.svg.png
). Basically his idea was the following. Take a big mountain and put a canon on it. If you fire a cannonball "gently" it will be attracted by the center of the Earth and fall down. Basically what you see with trajectory A on the drawing. If you fire it faster is will fall further away. At some point it will go far enough that the Earth will start to curve bellow it. And if you fire it fast enough it will end up completely missing the ground and go round and round the earth. This is what an orbit is. In fact about 80% of the energy spent launching a rocket is used to make the satellite go sideways. For low earth orbit you need to reach about 7 km/s (16,000 mph!). And if you stop the satellite it will just fall down to Earth.
> very small amounts of energy to make nudges to spacecraft in even low orbit
You are right about this. Say you are in orbit, since there is no air or friction to slow you down the tiniest of nudge can send you in one direction or another. That's why electrical propulsion is awesome. Even tho it has only a tiny amount of thrust you don't really care because you can slowly accelerate for days and days and reach amazing speeds. We often say that Hall thrusters let you do 0 to 60 mph in 3 days!
So now back to your original question. How do we keep a spacecraft still above a point on the ground? The thing is, the higher your orbit is, the longer it takes to do one revolution around the Earth. If you run the maths you can calculate that at exactly 22,236 miles above the Earth it takes exactly 24h to complete one orbit. The results is that [you are flying around the earth at the same speed it's turning around itself](https://upload.wikimedia.org/wikipedia/commons/5/50/Geostationaryjava3D.gif
). This means for someone looking up it appears stationary in the sky. This is called a geostationary orbit. It is why you can point your parabolic antenna in one direction to get satellite TV and never move it.
However this perfect orbit is a bit perturbed by the moon and and the sun pulling on the spacecraft. So you need a tiny bit of thrust to compensate for those perturbations. We call that stationkeeping. This is where electric propulsion comes in. Since the late 70's Hall thrusters have been used for this. Since they are very fuel efficient they can maintain the satellite in position for the 15 or so year it is expected to last.
I hope that answers your questions!