Obama has personally condemned Israeli settlements as did George Bush before him. This draft resolution condemns Israeli settlements. Obama cannot veto this without appearing as a stooge for Israel who is unable to take an honest approach to peace. In fact, Obama has little credibility left. I don't know how much self respect he has at the moment, but an American veto will reduce credibility and self respect to zero.
U.S. Senate votes overwhelmingly for tougher North Korea sanctions (Reuters)
from the article: Arab nations submit draft UN resolution condemning Israeli settlements