There are many aspects to consider in this assessment. I agree with some parts, but not with the entire analysis.
I agree that monetary policy alone can't address the very high price of oil or reduce bottlenecks in the global system. However, as I said before, it's very important for monetary policy to keep inflation expectations well anchored. When the price of oil goes down, or at least stops rising, and bottlenecks start to ease, the pressure on inflation decreases. Inflation will come down if inflation expectations are well anchored. Monetary policy must keep inflation expectations well anchored.