Iran, the Straits of Hormuz, and the Graveyard of Navies

It's been a few days since we last looked at the Persian Gulf crisis, and events are racing forward at such a pace that the only sensible approach is to take a step back and examine the deeper patterns. Behind the headlines about Trump's impulsive decision-making lies a far more consequential story: the moment when a medium-sized power with cheap drones and missiles can hold the world's energy supplies hostage, and the world's sole superpower finds itself with no good options.

I begin with the decision-making in Washington—or rather, the absence of it...