I love Pimpsy's discussion threads. They provide an intelligent place for debate and a good read whether you join in or not.
Anyway, although I don't know the exact details of the conflict at the moment, I know the (primarily religious) reason for the conflict, although it's progressed to the point where revenge is also a reason. It seems stupid, fighting over a piece of land which, if studied a bit, isn't even the best place for farming or looking for resources, except maybe oil. Honestly, if it wasn't for the fact that Israel is backed up by the US and other world powers, they wouldn't be messing with the Palestinians in the first place. The killing of the residing Palestinians is simply unnecessary, and if I remember correctly, Israel bombed Egypt first last week, which was also unnecessary. Sure, they killed a man who was a leader of one of their various enemies, but the collateral damage should've been considered as well.
On the religious side of the conflict, both sides are going against what their religions teach. They are killing many people for idiotic reasons, usually justified by some half-assed "We're doing it for (place deity here)" excuse and expect to get away with it, which sadly, they do. Then again, this is referring to the extremists that do everything.
Again, I'm not sure of the full details at the moment. If someone could correct me if I said anything incorrect, it would be appreciated.