A strategic asset against whom? In what state of the world would we like to see Israeli tanks roll where? Countries we want to stay nice and peaceful and commercial loathe Israel--and loathe us too because we support Israel.
Would we have wanted israeli tanks to roll...
Against a Russian attack from north to take control of the Persian Gulf?--But rolling Israel's tanks would have made the Arabs join the Russians.
Against Saudi princelings who had decided never to sell oil to the Infidels again?--But only the presence of Israel and the fact of U.S. support for it led them to ever think of the oil weapon at all.
Against Syrian Soviet Puppets?--But operation "Peace for Galilee" was the only thing that came close to turning Assad the Elder into a tool of the Soviet Union.
U.S. support for Israel is a strategic pain in the **** as regards our real, material, strategic interests in the Middle East--(back then) to contain the Soviet Union and to keep the oil flowing...
Brad DeLong