A simulator must be able to hold the simulation. That is, it must have at least as much information capacity (or whatever you want to call it) as the thing it simulates (the simplest possible simulator being, of course, the simulation itself i.e. our universe). In our universe, that requires more energy. We don't know what sort of universe the "Our Universe" simulator might run in, so let's not try to describe it except to say that it's probably more complex than ours (in terms of the natural laws that govern it).
As for this "but the simulator has to simulate itself" nonsense... No, it doesn't. To simulate our universe, it's pretty obvious our universe can't contain the simulator. Hell, physics engines (or whatever you want to call the likes of Havok) simulate simplified virtual worlds without having to simulate themselves. Any simulator running our universe would have to be doing likewise.
On another note, since we know of no other universes, and we're pretty sure there's no way to observe other universes from within our own anyway, this universe simulator concept is of no practical use. If you're trying to say that we can't simulate anything complex (e.g. the human brain) in our universe to such a degree as to make useful predictions (on account of not being able to simulate everything and/or the simulator itself), you're being ridiculous. It may be unfeasible (hell if I know), but it's certainly possible.