CNN: We were Warned about Risky Oil Supplies

CNN Presents aired an hour-long documentary over the weekend entitled "We Were Warned: Tomorrow's Oil Crisis," looking at the causes behind the recent oil shocks and what we can expect looking forward. Of course the impact on housing will be tremendous, and those builders which can't come up with creative solutions (i.e., partnering with companies such as the FlexCar car-sharing service) or alter their business plans for this new reality will likely perish. From the CNN website, a description of the show:

What if a hurricane wiped out Houston, Texas, and terrorists attacked oil production in Saudi Arabia? "CNN Presents" looks at a hypothetical scenario about the vulnerability of the world's oil supply, the world's remaining sources of oil and explores the potential of alternative fuels.

It looks like the days of singles buying SUVs only so they can 'see over the traffic' was not only ridiculously mis-guided, but is also history.

Not to be outdone, Fox News was also running its own special report over the weekend on energy entitled America's Future: Do We Have Enough Energy?