GM-GMC: 99 Chevy Suburban 5.7L Power Loss, oxygen sensors, chevy suburban

Question
When climbing steep hills or accelerating hard (i.e passing) the engine bogs down and loses a lot of power.  It seems to be downshifting, the RPMs increase, but just doesn't want to accelerate.  The engine light flickered once and stayed on but quickly reset itself.  Any recommendations?  

Answer
Check the air and fuel filters.  If they have not been changed recently, change them.

I had older Toyotas that displayed their "Check Engine" lights periodically until their oxygen sensors were replaced.  If your vehicle has 50,000 or more miles on it, the oxygen sensor(s) may be bad.