Were Rising Energy Costs the True Cause of the Recession?

Photo: respres , Flickr, CC Yes, it’s conventional wisdom at this point that a bursting housing bubble was the cause of the current, ongoing recession. But a primary reason that bubble may have burst was that homeowners had less money to pay their mortgages after rising costs of gasoline and electricity ate into their budgets. This is precisely what a new report published in the journal Environment Research Letters proposes. In fact, the report points out that rising energy costs have preceded … Read the full story on TreeHugger

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Were Rising Energy Costs the True Cause of the Recession?

Posted by on December 1, 2010. Filed under News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry