WarSclerotic

On April 1st, a leading analyst on Middle Eastern affairs spoke with Israeli leadership over recent US actions involving the two allied countries.  In his report, analyst Robert Satloff specified that Israel is outraged by the apparent leaks coming from American diplomatic circles on the defense preparations being taken by the Middle Eastern nation, and in accusations to the media by the Obama administration that Israel is the primary cause for high oil prices in the global markets.

A leading U.S. analyst who returned from talks with the Israeli leadership reported that the Obama administration was accused of staging a campaign to undermine Israel. The analyst, Robert Satloff, said Washington was also blaming Israel for the rise in global crude oil prices, deemed as harming the U.S. economy.

“I cannot underscore how deep and visceral the [Israeli] comments of the leaking that came out of Washington were,” Satloff, executive director of the Washington Institute for Near East Policy, said. – World Tribune.com

Accusations against Israel for rising oil prices is an argument that is neither valid, nor responsible by government officials.  President Obama, along with Europe and the United Nations, were the global players who imposed economic sanctions on the nation of Iran, and this, along with growing monetary inflation in the US economy, are the sole drivers of rising oil prices.

The rising price of oil and gasoline in the United States during an election year is one of the biggest hurdles President Obama will need to overcome if he desires to win re-election in November.  In fact, a recent poll of Americans showed that 68% disapprove of the President’s energy policies and his lack of progress in bringing down rising prices.

President Obama’s blaming Israel for rising oil prices may be tied to his conversation with Israeli Prime Minister Benjamin Netenyahu back in March, where officials reported that he asked the Jewish leader to hold off any attacks on Iran until after the November elections.  Part of this request would be tied to the recessionary outcomes the economy would take should oil prices explode due to an attack on Iran.

The United States currently has several carriers and warships in the Straits of Hormuz, so the blame is not solely on the nation of Israel for causing oil prices to jump over the past three months.  Additionally, the President’s recent accusations against speculators, along with accusations against the state of Israel for America’s energy problems, is one of the big reasons why a majority of Americans disapprove of his current policies.

President Obama’s election chances may rest upon finding ways to bring down the price of oil and gasoline for the American people before November, and four months into 2012 his policies have been mostly rhetoric and little action.  With the Fed implying the potential need for more monetization in the days ahead, inflation will be another aspect of the economy that the President must face if he is to find a worthwhile energy policy to deal with rising prices as the pump.