GoodFellows: Conversations on Economics, History & Geopolitics Dire Straits: Condoleezza Rice on The War with Iran | Hoover Institution
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Mar 12, 2026 
Condoleezza Rice, former U.S. Secretary of State and national security advisor now leading the Hoover Institution, joins a panel to weigh risks of wider Gulf conflict. They probe threats to oil shipping through the Strait of Hormuz. Conversations cover Iran’s internal weaknesses, geopolitical winners and losers, political stakes at home, and the emerging role of AI in modern warfare.
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Airstrikes Alone Can't Easily Kill Missile Threats
- Eliminating missile and drone threats solely from the air is historically difficult and requires persistent efforts.
- H. R. McMaster cites WWII V1/V2, Gulf War Scuds, and Israel-Hezbollah 2006 as precedents showing air strikes often need special forces or repeat strikes.
Strait Threat Is Iran's Ace In The Hole
- Closing or threatening the Strait of Hormuz is Iran's economic lever and quickly raises oil above $100 per barrel, with downstream domestic political effects.
- Condoleezza Rice notes container traffic disruptions and potential pump-price pain for the US electorate.
Avoid Letting Oil Blackmail Dictate Strategy
- Do not allow economic threats like oil-price blackmail to veto military action; that would be a strategic victory for Iran.
- John Cochrane argues enduring threats to maneuver freedom are worse than short-term price spikes.
