The UN Security Council is meeting today to consider the escalating violence between Israel and the Palestinians. Palestinians and the Arab states want UN observers. Israel maintains that monitors would just be a shield for Palestinian forces. With little likelihood that Europeans possess the diplomatic clout to push through a plan, does the United States represent the last chance for peace? We talk to a State Department veteran who says that time has come, hear about Europe's support for the Palestinians, and consider the status of oil as a possible weapon.