The New York Times: Reports on the weak response by the G8 to the threat of a Nuclear Iran, the G8 have decided that Iran has till September to come in to line, but as the NYT writes on the G8, " but remain vague and divided over what consequences they might try to impose should Tehran continue to defy them. " One can smell the appeasement coming from the G8, lets be honest and direct here, Obama has a weak hand when it comes to Iran, the USA has troops in Afghanistan and Iraq, the North Koreans are making dangerous noises in Asia, the US economy is in the toilet, a major recession if not depression. The USA can not afford another Middle East War, but on the other hand it might have no choice, Russia has a close relationship with Iran, through military deals and Russian interests in the region, thus Russia will only go so far when it comes to Iran, the Obama charm does not work on Putin, the Russian bear has a sore head and wants to keep it thank you very much Mr President. The EU is just weak, the UK also in Afghanistan can not help military over Iran. Thus it comes down to Israel, at the end of the day Obama might have to turn a blind eye to an attack by Israel, not the options any one wants but this is the real deal time, there might not be any other options. Thus expect the price of oil to go up, it going to get bloody in Iran and the Middle East. If Israel hits Iran, expect Iran to hit the USA in Iraq, thus a War, also Iran might try to cut off oil from the region, a War helps Iran, it diverts attention from a stolen election.
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