I am amazed at how many "smart" economists give a list of reasons the economy is slowing and the US is heading for another housing "bubble" while glossing over energy cost. Any child of two can figure a family of 4 with two cars is paying and average of $150/month more than two years ago. Not to mention the cost of everything goes up due to energy cost.

1) Consumer Demand is down because households have less disposable income due to energy cost
2) Foreclosures continue to be an issue because households have to prioritize which bills to pay due to less disposable income
3) The US is a consumer driven economy, take money away from consumers due to higher energy costs and you shrink the economy, DUH!

So NOT exploring US fossil fuel reserves, or forcing very Expensive "green" energy alternatives on the US consumer the US economy is doomed to a double dip recession/depression and housing bubble UNLESS a more even approach to energy supplies in adopted NOW.