First, in the old days, Henry Kissinger could fly to three capitals, meet three kings, presidents or prime ministers and strike a deal that could hold. No more. Today a peacemaker has to be both a nation-builder and a negotiator.

The Palestinians are so fragmented politically and geographically that half of U.S. diplomacy is going to be about how to make peace between Palestinians, and build their institutions, so there is a coherent, legitimate decision-making body there  before we can make peace between Israelis and Palestinians.

Second, Hamas now has a veto over any Palestinian peace deal. It’s true that Hamas just provoked a reckless war that has devastated the people of Gaza. But Hamas is not going away. It is well armed and, despite its suicidal behavior of late, deeply rooted.

The Palestinian Authority led by Mahmoud Abbas in the West Bank will not make any compromise deal with Israel as long as it fears that Hamas, from outside the tent, would denounce it as traitorous. Therefore, Job 2 for the U.S., Israel and the Arab states is to find a way to bring Hamas into a Palestinian national unity government.

As the Middle East expert Stephen P. Cohen says, “It is not enough for Israel that the world recognize that Hamas criminally mismanaged its responsibility to its people. Israel’s longer-term interest is to be sure that it has a Palestinian partner for negotiations, which will have sufficient legitimacy among its own people to be able to sign agreements and fulfill them. Without Hamas as part of a Palestinian decision, any Israeli-Palestinian peace will be meaningless.”

But bringing Hamas into a Palestinian unity government, without undermining the West Bank moderates now leading the Palestinian Authority, will be tricky. We’ll need Saudi Arabia and Egypt to buy, cajole and pressure Hamas into keeping the cease-fire, supporting peace talks and to give up rockets  while Iran and Syria will be tugging Hamas the other way.

And that leads to the third new factor  Iran as a key player in Palestinian-Israeli diplomacy. The Clinton team tried to woo Syria while isolating Iran. President Bush tried to isolate both Iran and Syria. The Obama team, as Martin Indyk argues in “Innocent Abroad: An Intimate Account of American Peace Diplomacy in the Middle East,” “needs to try both to bring in Syria, which would weaken Hamas and Hezbollah, while also engaging Iran.”

So, just to recap: It’s five to midnight and before the clock strikes 12 all we need to do is rebuild Fatah, merge it with Hamas, elect an Israeli government that can freeze settlements, court Syria and engage Iran  while preventing it from going nuclear  just so we can get the parties to start talking. Whoever lines up all the pieces of this diplomatic Rubik’s Cube deserves two Nobel Prizes.