What is the role of energy in the financial crisis?

The high price of energy was one of the things that brought the "credit crunch" into focus...too many home buyers bought houses that ate up almost their whole monthly income..just squeaking by... and when they all of a sudden had to start paying twice as much or more to GET to work, things started to unfold...then the gov started turning a food crop into fuel... food prices went sky high...more problems......people started falling behind...home prices dropped...and all of a sudden they were paying on a $ 300,000. mortgage and had a $ 250,000. house ...THEY " WALKED"... when a lender is holding hundreds and hundreds of those loans, you have " a financial crisis".What is the role of energy in the financial crisis?
With higher energy prices, then that means more companies will have to purchase more necessary power to operate their business. The more money they use for electricity, the less profit they make.What is the role of energy in the financial crisis?
It's role is that of a bit part sort of supporting cast. Common opinion is that with oil prices dropping, people will have more money to spend on other things and the recession will not be so bad as it might have been. That would be nice if it works out that way. What is the role of energy in the financial crisis?
Higher energy cost will drive down consumer's spending. Not good.