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PALESTINIAN President Mahmoud Abbas has participated in peace negotiations with five Israeli governments that refused to halt Jewish settlement construction. Yet Mr. Abbas has rejected an appeal from the Obama administration to start talks with the center-right coalition of Binyamin Netanyahu, putting one of the administration's primary foreign policy goals on indefinite hold. The reason: "America cannot get Israel to implement a settlement freeze," a statement said.

Has Mr. Abbas suddenly realized that settlements are the key obstacle to a Palestinian state? Hardly: In private, senior Palestinian officials readily concede that the issue is secondary. Instead, the Palestinian pose is a product of the Obama administration's missteps -- and also of the fact that the opportunity...