CNN.com – Beer drinkers beware: 4 percent of U.S. hops crop burns – Oct 3, 2006

No mention of which hop varieties were present but it sounds as if these hops were meant for macro-breweries like Anheuser-Busch. Which means that the price of hops might increase a bit. Because consistency is extremely important for those macro-breweries, they can’t simply start brewing less hoppy beers. Those huge breweries are already having a relatively tough time so even though they will easily overcome this problem, it is sad (though not devastating) news for them.
One advantage craft brewers have is that they can easily adapt to changing conditions. In fact, that’s how many beer styles have sprung up and it’s part of what makes craft beer so interesting.