Expectations from St.Petersburg

I have created this space for the sole purpose to vent out my views on the various events taking place around the world, especially in the economic and political world.
The G8 summit taking place in St.Petersburg is grabbing all the headlines world over. The world is looking at the G8 for answers on a number of issues ranging from tackling pakistan and dealing of terrorists to the future of soaring oil prices, and a solution to the ongoing battle in the middle east between the Hezbollah and Israel. It is quite astonishing that,America, which panics , when North korea test fires missiles, is staying absolutely calm and is turning the other to the Israeli aggression.The Israeli attack is cause a chain reaction which is sending shockwaves around the world. Oil prices have touched $78 a barrel with fears of fall in supplies and with OPEC not willing to increase production. I think its time the United Nations, steps in and takes some action to counter Israel's kneejerk reaction.