Something close to the truth appears in the official discourse of state power:

The [Israel-Palestine] conflict foments anti-American sentiment, due to a perception of U.S. favoritism for Israel. Arab anger over the Palestinian question limits the strength and depth of U.S. partnerships with governments and peoples in the AOR [Centcom's Area of Responsibility] and weakens the legitimacy of moderate regimes in the Arab world. Meanwhile, al-Qaeda and other militant groups exploit that anger to mobilize support. The conflict also gives Iran influence in the Arab world through its clients, Lebanese Hizballah and Hamas.
This is what is known in the CIA as "bean counting." Meaning, making an actual assessment, an actual counting of reality. Bush strongly discouraged any kind of bean counting.