Can Europe do this?
I'm not aware that there would be a widely agreed approach to the ME, other than talk only do nothing, which is tremendously better than the US approach of make it worse. But if a 'Yes, we can president' can be convinced to do just nothing?
On stronger efforts to reduce dependency of oil, I think any strong climate change policy will include that unintentionally. But that really is one of the points, where Europe really is trying to influence the US and the world.
Talk Obama into pressure Israel will as well not happen. I don't think Sarkozy will do it and I hope you understand that it is impossible for a German gov to ask for such a thing. To Turkey our elite tries to talk directly (neither very skilled, nor very successful; Erdogan has recently asked Turks living 3rd generation in Germany not to become Germans) and Saudi Arabia - well, if the fact that 9/11 included a number of Saudis and that doesn't do it, I don't know what Europeans shall matter. What has India done?
Anyhow, if the answer to Obama's request for troops is a non/no/nein, then I don't expect Obama to care much for any advice given to him. Der Amerikaner ist die Orchidee unter den MenschenVolker Pispers
a carefully thought out and widely agreed European approach