Well, here we go again!
With the arrival of the US Vice President Joe Bidden to the region he has brought word that the American administration declares the official resumption of the diplomatic process via indirect talks between Israel and the Palestinian Authority.
In the shuttling of Special Envoy George Mitchell, who preceded Mr. Biden by a few days, it was pushed through that The Palestinian Liberation Organization voted to give power to PA President Mahmud Abbas to negotiate with the Israelis.
Vice President Biden put the positive spin on his opening statement saying it is possible to see major points of agreement between the sides.
For their part Israel declared that they will build yet more housing in the West Bank.
But the other thing Israel is totally please about is that the Agreement, in principle, that former Prime Minister Ehud Olmert presented to Abbas in 2007 is not binding on either side.
Israeli Prime Minister Bibi Netanyahu said that he hoped that the process will lead to direct talks. He went on to say that Israel has waited a year for the resumption of negotiations with the Palestinians.
But many here in the region believe he is not sincere. And Mr. Netanyahu gave them ample reason by stating that he will not concede on recognition of Israel as a Jewish state.
Some feel that if Israel misses on this window of peace that the Obama administration is liable to reduce the aid Israel receives annually.
But like many things here – history tells the story, and many think this whole thing isn't going to go to far.
Mr. Biden made it clear in his press statements so far, that the bond between Israel and America is unshakable, and that Iran is more isolated than ever.
Recall that in 2000, at Camp David, Ehud Barak agreed to discuss the division of Jerusalem and the late Yasser Arafat could not accept a partial division and the negotiations failed. In 2009, Mr. Olmert even offered to soften on the principle against 'the right of return' and again the Palestinians stuck to their principle to the refugees right of return.
Mr. Netanyahau has said repeatedly he will not divide Jerusalem nor allow Arabs displaced by the conflicts with Israel to return to their homes within what is now Israel proper.
Perhaps the Palestinians will demonstrate cooperation along with a plan of their own that Israel will reject in order to draw the Obama administration to their side of the table.
We'll be keeping an eye on things and let you know how they develop – so stay tuned to the Harvest Show for my live update tomorrow!
Middle East Correspondent