Two days ago Obama held a press conference in which he openly prevaricated and disinformed the world about the true nature of his meeting with Israel PM Netanyahu. Today we find what was truly discussed, courtesy of Israel's Maariv newspaper, Spiegel and Reuters, which all tell us that it was a simple case of quid pro quo, namely that Barack Obama would supply Israel with bunker-busters and refueling planes if Bibi promised to delay an Iran attack until after the presidential election. The implication is simple - avoid an oil price shock this summer and delay it until next winter when Obama will be safely in his throne for another 4 years, at which point US citizens can fuel their cars with combustible urine following nights of binging on Everclear in hopes of ending their sorrows with alcohol poisoning, or better yet, all be in possession of the heavily subsidized flaming half ton block of metal known as the Obama Pinto, er, Volt.

Some more details on the latest horse trade from Israel Insider:

The US will supply Israel with bunker-busting bombs and refueling planes in return for delaying a strike against Iran until at least the end of the year, Maariv reported on Thursday. During their meeting earlier this week in Washington, Barack Obama promised Benjamin Netanyahu the latest deep-penetration arms from the US arsenal as well as airborne tankers to refuel strike jets necessary for an Israeli attack on Iran. In return, Israel will agree to not take any action until after the upcoming US presidential elections in November 2012. Although rumors of the possible supply of new bombs and planes began even while Netanyahu was still in the US, Maariv’s claim, based on Western sources, is that supply of the equipment is conditional on postponing an attack. Obama gave Israel neither a green light for an attack, nor a red light, but rather a “bright yellow light,” sources told Maariv, adding that the yellow light is nearly red. Obama told Netanyahu that an Israeli attack, uncoordinated with the US, will have the most serious implications on regional stability and relations between the two countries. Maariv said that sources close to the recent meetings in Washington reported that it will be “difficult, if not impossible” for Israel to ignore Obama’s warnings. Central to the difference of opinions is at what stage of the uranium enrichment process it will become necessary to use military force. According to intelligence reports, Iran has succeeded in enriching 120 kilogram (265 lbs.) of uranium to 20 percent purity. To make a bomb the Iranians require 250 kg (550 lbs) of 90% pure uranium. However, enriching from 20% to 90% is a relatively fast process, meaning Israel may see its window for action closing. According to Maariv, the US is prepared to wait until Iran has 250 kg of 20% rich uranium, but Israel considers the current developments beyond its own red line for action.

Perhaps it is time to make the presidential brent contango hump just a little bigger?