This possibility can be true, however, I still think the US economy is much more sensitive to oil shocks, despite being a de-industrialized economy. China can resort to coal and nuclear, has a more diverse energy infrastructure and can decrease production in case buyers from the whole world dry up. Not to mention that oil is the fuel of sea trade, the US cannot simply replace goods from China because it does not have an industry anymore. IMHO, the scorched earth policy will hurt far more the US than it will hurt China.