An old familiar one, actually, but rejuvenated and modernised.
In a nutshell, Israel has apparently failed to make timely payments for Egypt's natural gas and, per the contract, Egypt has stopped shipping it to Israel. Israel has responded by making threats and general bullying.CAIRO, May 9, 2012 (IPS) - The two weeks since Egypt's abrupt cancellation of a Mubarak-era gas-export deal with Israel have seen an exchange of indirect threats and warnings between the two countries, culminating in an apparent Israeli military build-up on the border of Egypt's Sinai Peninsula.
Since Egypt's natural gas was supplying 40% of Israel's energy, Israel now has a real reason to be paranoid, and Egypt's evil refusal to sell their precious natural resources to foreign countries will now replace Iran's fantasy nuclear bomb threat in the headlines.*
* unless Egypt caves in and starts selling/giving natural gas to Israel again.