What is different this time from 2007, 2014 is no Western countries are calling for restraint. There is no impartiality. EU with the Israeli flag, and Hezbollah ready to attack having said a ground invasion of Gaza is a red line. Escalation seems very likely.
We can go into the causes - UK initially responsible with the Balfour agreement setting up Israel in 1948 on Palestinian land, up until the present day- Israelis partying and having a Rave on land where Palestinians lived and their houses were demolished, and many were murdered by settlers.
However the bottom line there is very little will for peace, a peaceful solution, same as Ukraine, the whole thing driven by arms manufacturers and inflamed by corporate media. Peace can be accomplished by a collective will, this was proved in Ireland, but sadly there is no desire by the powerful for this, right wing politicians like Netanyahu are a serious problem in the World