Will flying cars ever take off?

Are we on the brink of the flying car?
Many of us spend hours stuck in traffic every week.
The growing population is partly to blame for our congested roads, but the main problem is that we are not expanding our transportation systems fast enough to meet ever increasing demands. One solution is to create a new type of transportation that doesn't rely on roads, which could one day make traffic jams a thing of the past. To do this, we must look to the sky.
For 50 years, science fiction has been tantalizing us with visions of airborne roadways and quickly maneuvering, sports-car-like flying cars.

The Moller M400 skycar (pictured here) is designed to take off and land vertically. It can reach speeds of 400 mph (644 kph), but will cruise at around 350 mph (563 kph), and it has a range of 900 miles (1449 km). Gasoline, diesel, alcohol, kerosene and propane can be used to fuel the Skycar, and its fuel mileage will be comparable to that of a medium-sized car, getting 20 miles (32.2 km) to the gallon. To make the Skycar safe and available to the general public, it will be completely controlled by computers using Global Positioning System (GPS) satellites, which Moller calls a fly-by-wire system. In case of an accident, the vehicle will release a parachute and airbags, internally and externally, to cushion the impact of the crash. The four-seat Skycar is powered by eight rotary engines that are housed inside four metal housings on the side of the vehicle. The engines lift the craft with 720 horsepower, and then thrust the craft forward.

But what about the worlds fuel shortage? Could this prevent flying cars from ever taking off?