“The United States faces a difficult choice: either commit to a long-term effort to reassert control over the Strait of Hormuz, or accept a new global energy arrangement in which U.S. control is no longer assured.
If it chooses acceptance, the outcome is clear: The international system will reorganize with Iran as a fourth center of global power. Yet if the United States chooses to reassert military control, it is in for a long battle, one it could well lose.”
View quoted note →