peak oil and property prices

This may seem off topic, but I don't think it is since I see it having a huge impact on property prices in the next 10 years.

Having done a fair bit of research on the topic of peak oil I am concerned about the probable dramatic rise in the cost of oil (over the next 10 years) due to
(1) depletion of the world oil supply (evidence suggests the Saudis have peaked already)
(2) dramatically increased demand for oil (Did you know that for every 1.7 Americans there is a car, but for every 1100 Chinese there is only 1 car and the per capita incomes of Chinese have just hit US$5000, the pivotal level for car buying) and
(3) a complete lack of alternative energy technologies that don't use more energy to produce than they save (eg a hydro car is built using more petrol and gas than it saves)

I'm no environmental hack either, believe me, but I am worried. Those interested in investing in property should get hold of the following movies "A Crude Awakening: The Oil Crash", "Crude Impact", and "The End Of Suburbia". Very interesting, they offer an alternative view to the belief that world economies, stockmarkets and property prices can keep rising forever.

Some other links:

International Energy Agency report admits to looming Peak Oil crisis, and predicts the first price shocks within two years (July 2007)

http://www.cbc.ca/consumer/story/2007/07/09/oilshortage070709.html

http://www.peakoil.nl/wp-content/uploads/2008/01/2008_january_oilwatch_monthly.pdf

Interested to hear people's thoughts on this. Is anyone else concerned about the affect of such issues on their portfolio?