Plot hole: In this episode, Pete comes across Clark's spaceship in a field, where it landed after the tornadoes hit the town during the last episode of Season 1. The Kents knew the spaceship was gone, and of course it was important that they attempt to get it back as soon as possible so it doesn't fall into the wrong hands. With Clark's speed and X-Ray vision, he should have been able to find the ship after not too long of a search (especially since it was within a few hundreds yards of a road). It seems implausible that he would not have looked for it, given its importance.

Smallville (2001)
1 plot hole in Duplicity - chronological order
More mistakes in Smallville
Jonathan Kent: Are you okay?
Clark Kent: Can I answer that in about five years?
Jonathan Kent: Yeah.
Clark Kent: Dad I'm glad you and mom are the ones that found me.
Jonathan Kent: We didn't find you, Clark, you found us.
More trivia for Smallville
Question: Throughout the series, people mutate fairly soon after their exposure to kryptonite. Is it ever explained how Lana has managed to wear a piece of kryptonite around her neck for 12 years and not change?
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Answer: The kryptonite only creates mutations when it reacts with the environment and an individual. Remember, the FDA and several environmental groups did check out Smallville after the meteor shower, but found no danger in the rocks. Obviously they're not always emitting mutating rays, or all the flora and fauna of the surrounding area would be horribly mutated.
Phoenix