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The US economy/dollar value would prob not be as low today if there was no "war", but don't doubt it would still be weak - mainly due to consistant consumption beyond a level the country can pay for.
Iraq may have been the first of OPEC countries to adopt the Euro and that was reversed and forced on Iraq by the current US admin. Whether that status quo remains is another issue. There have been mutterings at OPEC of changing the currency base for oil for a few years now and one factor promoting that concept is the variation in US dollar value.
Anything can happen in the Middle East - at the moment there appears to be a lack of sparkle in relationship with the US. If that gets more "anti" and the dollar keeps declining, there is a fair chance OPEC may elect to switch to Euros.
The effect of an oil currency not based on dollars would be devastating for the US and in effect, reduce that country to the ranking of third world status in economic terms. Seriously doubt OPEC, or others, have any desire to see that happen - however, unless the US gets a grip on it's own economy, it is more and more possible that scenario will be on the table at OPEC meetings for discussion.
At the same time the Middle East pressure cooker is steaming, there is also another economic "threat" from Asia and a shift in the world's economic powerhouse. This will happen either way and is unstoppable, but any western country needs to be in a stable economic condition to accept these changes. The US is probably the most unfit of any western country to handle this change and is already borrowing heavily on a daily basis from the future "world bankers" in Asia.
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