Letters from an American

Who Can Take the Pain the Longest?

12 min
Mar 13, 2026about 1 month ago
Listen to Episode
Summary

This episode analyzes the escalating US-Iran conflict as of March 2026, examining military costs, civilian casualties, and the geopolitical question of who can sustain the war longer. It covers the economic impact on global oil markets, military casualty figures, and the controversial US strike on an Iranian school that killed 175 people, mostly children.

Insights
  • The conflict has become a test of political endurance rather than military strategy, with unclear US victory conditions versus Iran's clear objective of regime survival
  • Global supply chain disruption extends far beyond oil—20% of world oil plus raw materials for fertilizer, plastics, electronics, and machinery are threatened by Strait of Hormuz closure
  • Military cost escalation is severe: $11.3B in first six days, with munitions burn rate of $5.6B in two days, raising concerns about US readiness for other conflicts
  • Transparency and accountability gaps exist between Pentagon casualty reporting and actual figures, with 140 US service members wounded versus initial claims of fewer than a dozen
  • Disagreement between US and Israel on war duration and objectives suggests coalition fragmentation, with Israel targeting Iran's oil industry and leadership while US endgame remains undefined
Trends
Asymmetric warfare economics: low-cost naval mines ($thousands) can disable billion-dollar military assets, shifting cost-benefit calculusOil price volatility driven by regional security instability, with Brent Crude exceeding $100/barrel and potential for $200/barrel scenariosSupply chain vulnerability in critical materials: fertilizer, plastics, electronics components dependent on Strait of Hormuz transitMilitary spending acceleration outpacing congressional oversight and transparency mechanismsGeopolitical realignment: US-Israel strategic divergence on Iran war objectives and durationCivilian casualty documentation and accountability becoming central to conflict narrative and international legitimacyPentagon credibility erosion through delayed casualty reporting and inconsistent public statementsGlobal energy market concentration risk: 20% of world oil through single 2-mile shipping channel
Topics
US-Iran Military ConflictStrait of Hormuz Shipping DisruptionGlobal Oil Market ImpactMilitary Casualty ReportingPentagon Budget and Munitions SpendingCivilian Casualties and Targeting AccuracyUS-Israel Strategic DisagreementNaval Mine Warfare EconomicsSupply Chain DisruptionCongressional Military OversightWar Endgame StrategyBrent Crude Oil PricingUS Military ReadinessDiplomatic Ceasefire NegotiationsDefense Transparency and Accountability
Companies
Reuters
News organization that reported on US troop casualties in Iran conflict, prompting Pentagon casualty figure revisions
Pentagon
US Department of Defense entity managing military operations, casualty reporting, and budget allocation for Iran conf...
Axios
News outlet where Trump discussed war progress and timeline in interview with Barack Ravid
The Guardian
News organization reporting on Iranian ceasefire rejection and strategic objectives through Patrick Wintour
Fox News
News outlet providing analysis of naval mine warfare economics and deployment tactics via Morgan Phillips
New York Times
Major news organization reporting on military investigation findings, casualty figures, and school strike investigation
Associated Press
News wire service providing analysis on war sustainability and oil market impacts through multiple reporters
Wall Street Journal
Business publication reporting on US-Israel disagreement regarding war duration and strategic objectives
Washington Post
News outlet covering congressional frustration with Pentagon casualty reporting transparency
Wired
Technology publication analyzing supply chain impacts of Strait of Hormuz disruption on global commerce
Newsweek
News magazine where Trump discussed Hormuz Strait reopening project and oil price expectations
People
Donald J. Trump
US President directing Iran military operations, claiming war progress and denying school strike responsibility
Barack Ravid
Axios reporter who conducted call with Trump regarding war progress and timeline
Patrick Wintour
Guardian correspondent reporting on Iranian ceasefire rejection and strategic war objectives
Steve Whitcoff
Trump's envoy who sent ceasefire messages to Iran that were rejected by Iranian officials
Morgan Phillips
Fox News reporter analyzing naval mine warfare economics and deployment tactics
Chris Cameron
NYT reporter noting Trump's imprecision regarding mine ship strike figures
Ebrahim Zulfikari
Iranian military official warning of $200 barrel oil prices due to US destabilization
Pascal Aucer
French military analyst describing Strait transit conditions as suicidal without ceasefire
Leonardo Feldman
Newsweek reporter interviewing Trump on Hormuz Strait reopening project
Arian Marshall
Wired reporter analyzing supply chain impacts of Strait disruption on global materials
John Gambrill
AP reporter framing conflict as question of who can endure pain longest and analyzing war costs
David Brown
WSJ reporter covering US-Israel disagreement on war duration and strategic objectives
Phil Stewart
Reuters reporter whose casualty figures prompted Pentagon to revise official estimates upward
Alex Horton
Washington Post reporter covering congressional frustration with Pentagon casualty reporting
Bora Erden
NYT reporter documenting strikes on US military sites and diplomatic installations
Leanne Abraham
NYT reporter documenting strikes on US military sites and diplomatic installations
Katie Edmondson
NYT reporter covering Pentagon's disclosure of $11.3B war costs to Congress
Julian E. Barnes
NYT reporter on military investigation into school strike that killed 175 people
Carolyn Levitt
Press secretary defending Trump's statements about school strike responsibility
Heather Cox Richardson
Podcast host who wrote and read this episode analyzing the Iran conflict
Quotes
"The war is going great. We are way ahead of the timetable. We have done more damage than we thought possible, even in the original six-week period."
Donald J. TrumpMarch 11, 2026
"Any time I want it to end, it will end."
Donald J. TrumpMarch 11, 2026
"Get ready for oil to be $200 a barrel because the oil price depends on regional security, which you have destabilized."
Ebrahim ZulfikariMarch 11, 2026
"In today's context, sending warships or civilian vessels into the Strait of Hormuz would be suicidal."
Pascal AucerMarch 11, 2026
"Who can take the pain the longest?"
John GambrillMarch 11, 2026
Full Transcript
March 11, 2026 In a brief call with Barack Ravid of Axios today, President Donald J. Trump said, The war is going great. We are way ahead of the timetable. We have done more damage than we thought possible, even in the original six-week period. He added that the war against Iran will end soon because there's practically nothing left to target. Little this and that, any time I want it to end, it will end, he said. In fact, according to Patrick Wintour of The Guardian, Iranian officials have rejected two messages from Trump's Middle East envoy, Steve Whitcoff, calling for a ceasefire. Wintour writes that Iran's leaders, since it is not losing the war and the US president is at the minimum feeling the political pressure. Iranian officials intend to make the economic, political, and military costs of the war so high that Trump will not attack Iran again. For his part, Trump appears to be panicking over yesterday's news that Iran is laying minds in the Strait of Hormuz, through which tankers transport about 20% of the world's oil through a two-mile wide, or 3.2 kilometer, shipping channel. 20% of the world's oil is about 20 million barrels, and a barrel is a unit of measure equal to 42 US gallons or 159 liters. Threats from Iran have bottled up oil in the Persian Gulf, and suppliers are shutting down operations because their storage facilities are full. The average price of gasoline in the US has jumped nearly 60 cents a gallon since Trump launched attacks against Iran. As Morgan Phillips of Fox News notes, naval mines are cheap, as little as a few thousand dollars, and can incapacitate or sink a two billion dollar US destroyer. They can be deployed by small vessels like hard to spot fishing craft at night. The US destroyed 16 inactive Iranian mine laying ships yesterday. Today, three merchant ships sustained minor damage after being struck in or near the Strait. Today, Trump claimed the US has hit 28 mine ships as of this moment, prompting Chris Cameron of the New York Times to note that the president sometimes exaggerates or is imprecise when giving figures. A spokesperson for Iran's military command, Ebrahim Zulfikari, said, get ready for oil to be $200 a barrel because the oil price depends on regional security, which you have destabilized. Today, Iran struck oil storage facilities in Oman and Bahrain. While a few Iranian ships are traversing the Strait, they are the only ones. Retired French vice admiral Pascal Aucer told the Associated Press, in today's context, sending warships or civilian vessels into the Strait of Hormuz would be suicidal. Adding that a ceasefire with Iran would move the situation from suicidal to dangerous. At that point, escorts of oil vessels by military ships could begin. Today, Trump told Leonardo Feldman of Newsweek that the project of reopening the Hormuz Strait is working out very well, and I think you're going to see that. Trump has said prices will drop very rapidly when this is over, but oil industry analysts say reopening production could take at least a month, even if Trump could declare the war over immediately. And there is no indication Iran would agree to an instant ceasefire. Arian Marshall of Wired reports that half of the ships that usually travel through the Strait of Hormuz carry oil, but the other half carry raw materials that are made into fertilizer, plastics, precision instruments, machinery, electrical parts, and electronic components, all of which could jump in price. John Gambrill of the Associated Press suggested that the war with Iran boils down to a single question. Who can take the pain the longest? Iran is being hammered with airstrikes by both Israel and the US. Those strikes now include Israeli strikes on targets in Lebanon. Israel says are connected to Iran-backed Hezbollah militants, killing more than 600 people and turning as many as 800,000 into refugees. For the regime, Gambrill notes, victory means staying in power and outlasting the bombing. It is unclear what victory looks like for the US. The administration has offered a range of justifications for its war without suggesting what an end game looks like. David Brown of the Wall Street Journal reported today that the US and Israel appear to disagree about how long the war should last, with Israeli officials wanting to continue the war by decimating Iran's oil industry and targeting top Iranian officials. The pain for the US is already becoming clear. Yesterday, after Reuters reporter Phil Stewart reported that as many as 150 US troops had been wounded so far in the Iran conflict, the Pentagon publicly revised its estimate of fewer than a dozen US service members wounded, upward to about 140. The wounds include brain trauma, shrapnel wounds, and burns. Seven service members have died. Lawmakers and their aides expressed frustration that the Pentagon had not announced the casualty numbers without prodding. Just own it and be transparent, a congressional aide told Alex Horton of the Washington Post. You owe it to the service members. Bora Erden and Leanne Abraham of the New York Times reported today that at least 17 US military sites and installations across the region, including air defense systems, have been struck since the war began. Iran has also struck diplomatic sites, including US embassies in Kuwait City, Kuwait, and Riyadh, Saudi Arabia, and the US consulate in Dubai. The eye-watering cost of the conflict is also hitting home. Officials from the Pentagon told members of Congress this week that the military used up $5.6 billion worth of munitions in the first two days of the war, a much higher burn rate than the administration had previously disclosed. Lawmakers are concerned that Trump's Iran attack, along with his strikes on Nigeria, Somalia, Iraq, Venezuela, the small boats in the Caribbean and eastern Pacific, and the Houthis in Yemen, is cutting into US readiness for unexpected conflicts. Lawmakers are also unhappy about the administration's expected upcoming request for more money to fight the war. Katie Edmondson of the New York Times reported that Pentagon officials told lawmakers yesterday the first six days of the war had cost more than $11.3 billion, not including the buildup of personnel and military hardware for the initial strikes. Today, Julian E. Barnes, Eric Schmidt, Tyler Pager, Maliki Brown, and Haleen Cooper of the New York Times reported that, according to a preliminary report by military investigators, the US is responsible for the February 28th strike on the Shijara Tayyaba Girls Elementary School that Iranian officials say killed at least 175 people, most of them children. The school building had been part of an adjacent Iranian military base years ago, and it appears the US used outdated information in their targeting of the building. As the journalists wrote, striking a school full of children is sure to be recorded as one of the most devastating single military errors in recent decades. On Saturday, when asked about the possibility the US was responsible for the strike, Trump answered, no, in my opinion and based on what I've seen, that was done by Iran. We think it was done by Iran because they're very inaccurate with their munitions. They have no accuracy whatsoever. It was done by Iran. On Monday, when a reporter noted that it was likely a Tomahawk missile that hit the school and asked if the US would accept responsibility, Trump responded that the Tomahawk is sold and used by other countries and suggested that Iran also has some Tomahawks. On Tuesday, a reporter asked why Trump said Iran had Tomahawks when only three other US allies and the US have them. White House Press Secretary Carolyn Levitt answered, the president has a right to share his opinions with the American public, but he has said he'll accept the conclusion of that investigation, and frankly, we're not going to be harassed by the New York Times, who's been putting out a lot of articles on this, making claims that have just not been verified by the Department of War, to quickly wrap up this investigation because the New York Times is calling on us to do so. Today, a reporter confronted Trump saying, a new report says that the military investigation has found that the United States struck the school in Iran. As commander-in-chief, do you take responsibility for that? Trump answered, I don't know about it. Tonight, Iranian boats full of explosives hit two tankers carrying Iraqi fuel oil and set them ablaze about 30 miles or 48 kilometers off the Iraqi coast. According to Iraqi state media, Iraqi oil ports have completely stopped operations. John Gambrale of the Associated Press reported that one of the key measures of oil prices, Brent Crude, jumped above $100 a barrel. Letters from an American was written and read by Heather Cox Richardson. It was produced at Soundscape Productions, dead in Massachusetts, recorded with music composed by Michael Moss.