Long before oil reaches $700 the world as we know it would cease...

Long before oil reaches $700 the world as we know it would cease to exist. Armargedon like scenarios would prevail, and his Bank would join all the worlds Banks in total destruction. Many Countries would go to war to secure supplies, and internal unrest would make many others ungovernable. Even at $200/300 the economies of the US China India etc would slow to a snail like crawl, which would in turn result in a dramatic fall in demand worldwide, and that would then result in the collapse of the oil price.
The fact is that the economies of the world are very intertwined and complex, and its stupid to say that oil could ever reach those levels when there are so many variables to contend with.
The man is a dilusional alarmest probably fuelled by self interest. PDYOR