Rus: I guess I would pose a question in return, and that would by why do you believe the geography is critical? And, no, I’m not asking that to set up an ambush; I’m truly just curious.
The geography was critical during WWI in that it gave the British a strategic “back door” into the Ottoman Empire. The Dardanelles (Gallipoli) campaign was a disaster, and T.E. Lawrence’s plan to attack Aqaba was a cheap (in terms of men, money and materiel) alternative.
After WWII, the area became important both due to the oil and the ability to contain the Soviets along their southernmost borders.
I guess my question would be better phrased as: Now that the Cold War is over and presuming that we don’t need the oil anymore, what the hell other reason(s) would we have to be there?