Um, no.
In fact the reason for the current shortage is that due to some obscure shutdown thingy on Planet Earth in 2020, demand for oil went down and thus so did supply. Now that demand is up, supply has to contend with what it was cut down to.
The pipeline was to take Canadian oil to the Texas coast and ship it to China. It will not, did not, and has not any effect on what we use this year nor last nor before because it hasn't been built yet.
China won't be crippled economically because they make our products for us because Americans don't want to buy American because we can buy it cheaper (and shoddier) from China.
The only thing Trump's tariffs halted leaving here for China was soybeans and other agricultural products headed there which got to rot on the ground here. The GOP has stymied every effort to rescind laws giving tax incentives and subsidies to companies leaving to set up manufacture in China. When costs get too high there as they did in Japan, they'll just be moved to elsewhere n Asia as they already have been. Then Africa, then South America. Then the oil and Ogallala Aquifer would have run dry and after 95% of the world's population got killed in the cannibal riots of 2065-66 - - oh, wait, never mind, you didn't see that.