I thank you for inviting me to the 8^th Annual Herzliya Conference.  I find this conference special because it is much broader than just military security.  For example, yesterday we heard Shimon Peres discuss the importance of education as central to the future security/stability of the state. 

This is my second Gulf trip in six weeks, and sixth in the last year.  One of the main purposes to my visits is trying to deal with our US dependence on oil there.  Through my various trips I have come to realize that the Gulf is enveloped in two strong emotions: hope and fear.  On the one hand, they have the hope and vision to advance into the 21^st Century global economy.  But on the other hand, they live in a fragile security situation and fear the many issues that confront the region, including the stability of Iraq and the spread of Iran's radical ideology.

It is not important when we leave Iraq, but how. It not only effects our credibility in the region, but also globally. The American people have been patient, but this patience is wearing thin, which is manifested in the Presidential candidates' rhetoric. I hope with whomever is elected, a stable policy of withdrawal will be established

President Bush has proposed a $20billion armaments package to the Gulf.  I think we should go through with this package because if we fail to, other nations like China, Russia, and France, won't hesitate to do so in our place.  If we, the US do it, we can assure the security of Israel, as well as other interests, much more so than if not.

The US doesn’t mind other countries having nuclear technology, but we must be concerned on how that technology is monitored for peaceful purposes.

This brings me to the issue of Iran.  The recent speedboat incident in the Straits of Harmuz was, as President Bush said, very dangerous and very provocative.  The commanders on the ship actually came within seconds of firing on those boats.  I hope the Iranians won't continue this kind of harassment.  However, we know Iran is very provocative, as it is funding: Hezbollah, Hamas, Shi'a in Iraq, and other radical groups.  This is precisely why the Gulf states are concerned, and are looking to the US for help.

So many ships must pass through the Straits of Harmuz each year, and Iran poses a threat to the global economy because of this. 

So the question is, how do we contain Iran?  Well, we should talk to them from a position of strength.  We should pursue all diplomatic initiatives.  If we impose and enforce sanctions, it should be multilaterally and through the UN. 

What the recent NIE report really said is that for 18 years, Iran has been pursuing a secret and dangerous nuclear weapons program.  I therefore believe the NIE had calming results that threw us off track.  We must get back on track. With too much nuclear power on earth and through the wrong hands, we risk a nuclear Holocaust in the future.

The US hasn't taken energy initiatives seriously enough to take our dependency off oil.  We must work on this.

In conclusion, we must not let Iran continue on its path, and we must secure Israel. Thank you.