Gee...I wonder why Oil would "REBOUND" if Israel is practicing bombing Iran?

It probably won't rebound for long even though Iran isn't as big as an oil exporter as many may think. Gasoline is high for a few reasons: 1)China and India have economies that are growing, thus demand for oil is very high. 2)Along with 1), there is not an unlimited supply and the OPEC nations cannot increase production to keep up with the demand and 3)the devaluation of the dollar makes it more expensive (that can be faulted to economic policy). Google Peak oil theory and you can get detailed statistics. Actually if Iran is attacked, it can shut down key shipping routes and I am sure oil will hit 200/barrel at least temporarily!