I think we just seize the Sinai peninsula, Suez Canal, and any other part of Egypt we may find to our need. We've already paid the ingrates enough for it already.
We need a new state in that part of the world anyway, so many Americans now want to move to deserts, and Arizona and Nevada are about full.
Sinai and NW Saudi look like good candidates for a new territory and later state.
And while we're at it, why not give the Sinai to the Palis? Move them there. Israel assumes soveriegnty over the West Bank and Gaza Strip. Build a 50 ft high wall between Israel and the Sinia. Then the Egyptians can enjoy closer proximity to their brothers, the peace-loving Palis. Middle East problem solved. GW can send my consulting fee to Free Republic. :O)