Why Iran Could Choose to Escalate the War

In early March, nine days after starting his war with Iran, President Trump held a news conference to crow about his “military success, the likes of which people haven’t seen.”

“We’re winning very decisively,” he claimed, and “the result will be lower oil prices.”

Peter Navarro, a White House senior counselor, wrote an essay in March explaining why: “Iran War Will Lower Energy Prices.” Defense Secretary Pete Hegseth in April announced “a historic and overwhelming victory” that had rendered Iran “combat-ineffective for........

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