[T]he Obama administration should not discount the possibility of an Israeli-Iranian nuclear conflict. From the very start, the nuclear balance between these two antagonists would be unstable. Because of the significant disparity in the sizes of their respective arsenals (Iran would have a handful of warheads compared to Israel's estimated 100-200), both sides would have huge incentives to strike first in the event of a crisis.

Israel would likely believe that it had only a short period during which it could launch a nuclear attack that would wipe out most, if not all, of Iran's weapons and much of its nuclear infrastructure without Tehran being able to retaliate. For its part, Iran might decide to use its arsenal before Israel could destroy it with a preemptive attack. The absence of early warning systems on both sides and the extremely short flight time for ballistic missiles heading from one country to the other would only heighten the danger. Decision-makers would be under tremendous pressure to act quickly.

The report also means that for the time being, an Israeli military strike will likely move to the back burner, and Jerusalem will focus instead on getting the world to impose crippling sanctions on Iran, not crippled sanctions like those that have already been passed.