The ongoing military conflict will inevitably drive up oil prices significantly and lead to sharp increases in inflation for the American economy.

“Folks, you can expect a barrel of oil price to be in the $150 to $200 per barrel of oil very very soon and I'm not trying to be hyperbolic here, but we've seen the markets crashing. We've seen the United States economy crashing.”

The president's decision to pursue the memorandum of understanding is driven by pragmatic concerns about oil prices and the desire to avoid an international economic depression before the midterms.

“The president was being told by people near him that if he had bombed Kharg Island or the South Pars gas field, that this would have caused some sort of international depression. So, again, this is all economic calculation for the president.”

The war in Iran is negatively impacting the US economy by raising fuel and grocery prices, which burdens American farmers and constituents.

“And it is my constituents and all of America that is paying for this. Whether that's through higher uh fuel prices, grocery prices. My farmers are struggling so much this spring planting season.”

Avoiding a direct attack on Iran's oil infrastructure was necessary to prevent an international economic catastrophe.

“I didn't want to ruin the world market, cuz they do a lot of money." But, um I didn't want to do that. No. It would have been so easy. It would have been easier, and I would have satisfied a group of 10% of the people, but it would have been the wrong thing to do.”