My reasoning for not turning over eastern half of Nile: I want Egypt to stay unified.
His reasoning for wanting it: rebuilding a "nation" that is thousands of years extinct, and nobody in the region really wants to see back (including the Jews, considering it would cause them strife). Israel? I'm fine with that. Even Fertile Crescent. But not my lands.
His real reasoning for wanting it: 98.12% sure it's the Suez canal. The other 1.88% is impulsiveness.
Also, I didn't think there were this many Jews. Remember that Turkish rebellion? Gee, I wonder if that was caused because they were tired of fighting for another religion.