This question is actually mentioned in the LucasArts Support pages:
Q: I am getting a message, ""Could Not Initialize HAL" when I try to run Rogue Squadron.
A: This error will occur if your system does not meet the minimum requirements to run the game, specifically, the video card. Rogue Squadron requires a 4MB 3D accelerated video card. Below is a list of the chipsets that are supported by the game, you must have one of these cards with the latest drivers in order to run Rogue Squadron:
3dfx Voodoo 3
3dfx Voodoo 4
3dfx Voodoo 5
ATI Rage 128 Pro
ATI Dual Rage 128 Pro
Matrox G 400
Matrox G 450
Nvidia Riva TNT?TNT2 Family
Nvidia GeForce256 Family
Nvidia GeForce2 Family
Nvidia Quadro, Quadro2 Family
Kyro
Canopus Pure3D II
Creative Labs 3D Blaster Voodoo 2
Guillemot International Maxi Gamer 3D 2
Orchid Technologies Righteous 3D II
STB Systems BlackMagic 3D
3Dfx Interactive Voodoo Banshee
Diamond Multimedia Monster Fusion
Canopus Pure3D
Deltron Technologies RealVision Flash 3D
Diamond Multimedia Monster 3D
Orchid Technologies Righteous 3D
Hercules Stingray 128/3D
Intergraph Intense 3D Voodoo
Hercules Stingray 128/3D
Jazz Multimedia Adrenaline Rush 3D
ATI Technologies XPert@play
ATI Technologies XPert@work
Diamond Multimedia Stealth II G460
Intel Express 3D
Real3D StarFighter AGP
Matrox Graphics Productiva G100 AGP
Matrox Graphics Millennium G200 AGP
STB Systems Nitro DVD
Number Nine Revolution IV AGP
ASUSTek 3DexPlorer 3000 PCI
ASUSTek 3DexPlorer 3000 AGP
Canopus Total 3D 128v
Diamond Multimedia Viper 330 AGP
Diamond Multimedia Viper 330 PCI
STB Systems Velocity 128
STB Systems Velocity 128
Canopus Spectra 2500
Diamond Multimedia Viper 550
Creative Labs Graphics Blaster Exxtreme
Viewtop 3D Mars 2
Creative Labs 3D Blaster PCI
Intergraph Intense 3D 100
Sierra On-Line Screamin' 3D
Canopus Total3D Verite
Diamond Multimedia Stealth II S220
Hercules Thriller 3D
You probably also want to make sure you have patched the game since Voodoo3 is specifically mentioned in the fix list:
Patch Name: 1.2.0 Update
Platform: PC
Format: CD-ROM
Size: 2.4 MB
Min. Requirements: N/A
Posted: 7/99
Installation: To install the update after downloading, simply double-click the update program "rogueupd12.exe" and follow the on-screen instructions. The setup program should automatically locate where Rogue Squaron was installed and update those files.
Corrects: This update for Rogue Squadron 1.2.0 has been modified to:
* Add the Naboo Starfighter to the game. The Naboo can only be accessed after completing a Level with the default craft for that level.
* Address the problem with graphical corruption when using a 3D accelerator card which uses the 3dfx Voodoo 3 or 3dfx Banshee chipset.
Notes: This update was designed for all language versions.
File: ROGUEUPD12.EXE (LucasArts FTP Site)
ftp://ftp.lucasarts.com/patches/pc/rogueupd12.exeFilePlanet shows a version 1.21 patch as well:
http://www.fileplanet.com/27649/20000/fileinfo/StarWars:-Rogue-Squadron-v1.21