The so called peace process is a total waste of energy as long as Arabs including Palestinians don’t want to give in on essential things like the right to exist of Israel.
And they even don’t want to give in to each other (that’s why they live in dictatorships) let alone to their arch enemy Israel.
Don’t force Israel to concessions that will only strengthen it’s mortal enemies.

Obama must stop with it and concentrate his middle-eastern foreign policy on three things:

Stay the course in Iraq: Iraq can be a good country but it needs time (a lot of time: 10 or 20 years) and a very strong American presence during all those years.
Support especially a good secular education system so the next generation of Iraqi’s will think less sectarian.
Premature leaving would embolden the Muslim radicals in a very big way.

Heavy pressure on Egypt to seal off the border with Gaza (this time for real), so Hamas cannot rearm itself.

Stop Iran going nuclear: how that doesn’t matter talks/negotiations/sanctions/even (Israeli) air raids as a last resort just don’t let Iran get the bomb.
It’s crucial for the sake of Israel/ the middle east in general and the world as a whole.