I think it's about oil. Israel sort of acts like a proxy for the US to project power into the region. And if push comes to shove and there is a final grab for the oil fields in the middle east by another power like China or Russia, Israel will be on the front line of that conflict. That's the best and most realistic theory I have heard so far. And it explains why the US is so committed to keeping Israel armed to the teeth.
Two seriously wounded in crime-related shooting in Netanya (Haaretz)
from the article: Secret Israeli report: U.S. cozying up to Palestinians