Why not a Palestinian state?

Gideon Levy has a hard time understanding why the leaders of Israel do not want a Palestinian state. 

Some of his observations:

Four prime ministers, Benjamin Netanyahu among them, have said that they're in favor, that it must be accomplished through negotiations, so why haven't we done it yet? Is our argument that we object to it's being a unilateral measure? What's more unilateral than the settlements that we insist on continuing to build?

Thirty-two years ago, Israel signed a peace agreement with Egypt in which it undertook "to recognize the legitimate rights of the Palestinian people" and to establish an autonomous authority in the West Bank and Gaza Strip within five years. Nothing happened.

Eighteen years ago the prime minister of Israel signed the Oslo Accords, in which Israel undertook to conduct talks in order to achieve a final-status agreement with the Palestinians, including the core issues, within five years. That, too, did not occur.

For years, Israel claimed that Yasser Arafat was the sole obstacle to peace with the Palestinians. Arafat died - and once again nothing happened. Israel claimed that if only the terror were to stop, a solution would appear. The terror stopped - and nothing.

Can you answer the question? If the number of Arab voters in the U.S. exceeded that of Jewish voters, what do you think the answer of our leaders would be?