In one of the longest sections of his speech, Obama urged Israel, in unusually frank terms, to negotiate a final peace agreement with the Palestinians.http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/05/19/MNME1JIE3C.DTL
For the first time, Obama cited Israel's boundaries on the eve of the June 1967 Arab-Israeli war as the basis for negotiation over final borders, saying that a "full and phased withdrawal of Israeli military forces" from the West Bank should be carried out in coordination with Palestinian security forces.
The formulation goes beyond principles outlined by President George W. Bush, who stated during his term that "it is unrealistic to expect" Israel to pull back to the 1967 lines. Obama said the negotiations over final borders, which he indicated may include land swaps to accommodate Israel's large settlement blocs, should result in "a viable Palestine, a secure Israel."
Obama's opening bid is to keep pre 1967 Israel in one piece.
Obviously, in negotiations, Israel will be required to give away even more.
Clearly, Obama's goal is a weak rump Israel with indefensible borders.