U.S. President Barack Obama and Israel Prime Minister Benjamin Netanyahu conducted talks in Washington D.C. on Monday, March 5, 2012 centered mainly on recent nuclear advances by Iran and its destabilizing impact on the region especially anticipated threat to Israel. Iran claims its efforts are aimed at developing nuclear capability is for peaceful purposes such as much needed energy production.
President Obama during a news conference following bilateral talks emphasized his willingness to allow additional time for sanctions imposed on Iran to work. However, Prime Minister Netanyahu expressed his concerns over recent developments and stated that Israel’s desire to take its own actions to protect citizens of Israel.
Any attack by Israel will have destabilizing impacts beyond the Middle East. Iran can cripple the trade in the Strait of Hormuz and destroy ships in the area. Oil and gas prices in U.S. and elsewhere will double crippling a fragile economic recovery in the U.S., Europe and other world countries. Iran may launch a military attack on Israel with civilian casualties. It will bring U.S. into the conflict with casualties. Cost of an another war will impact the U.S. economy and bring down most other world economies.