Bake the bacon on a double layer baking sheet tray, about 10 mins on 350 degrees or until crisp. Cut bacon into strips and add to a stockpot with 1 tbsp of reserved bacon grease.
Add diced onions to stock pot and saute until softened, about 5 minutes.
Add flour to onions and stir continuously until lightly colored, about 2 minutes.
Whisk in clam juice and clams.
Add rest of ingredients and bring to a simmer.
Continue cooking on high heat for about 30 minutes or until potatoes are completely done.
Remove from heat. Add salt and pepper to taste.
Serve with Oyster crackers.