100% Pure Bullshit. Gotta love it.
$400 a barrel oil would be the best thing that could happen to the world. The amount of research and development devoted to gasoline alternatives in the six months immediately after such a price shock would exceed the total spent on such research in the preceding century. Which is just what Big Oil, OPEC and the oil producing nations do not want to happen. Which is why the price came down from $80 to $60 recently.