> The US economy hinges on sustaining the petrodollar system

This is an incredibly uninformed view. Dollar hegemony rests on our being the sole trusted enforcer of the oceans' open navigation. That confers us, directly and indirectly as a large economy, economic advantages which in turn reinforce our military's ability to defend this position.

Petrodollar monetarism is no longer a dominating factor to our financial system. Relying on it as a forecasting model, for economic or geopolitical aims, will produce bad outputs.

The oil price has an enormous effect upon world economies.