Guest Post by Nick Giambruno
On October 7, Hamas, an armed Palestinian militant organization that controls the Gaza Strip, launched Operation Al-Aqsa Flood.
It was the most significant attack against Israel since the 1973 Yom Kippur War, which started almost 50 years ago to the day.
Now, Israel has formally declared war for the first time since 1973.
The Middle East is on the precipice of a regional war that could eclipse the 1973 Yom Kippur War.
Many people don’t appreciate how close we are to a catastrophe of historic proportions that will touch everyone.
Remember, American support for Israel during the 1973 Yom Kippur War was the catalyst for the OPEC embargo, which caused the first oil shock. The oil price roughly quadrupled, from around $3 per barrel to about $12 in a matter of days.