The Bush administration drafted essentially the same resolution as well. But history is long and hard.
Personally, I think someone needs to grab the Israelis by their shirt collars and shake them until they get it together and realize that these settlements only make things worse for them, but that's just my opinion. I would, however, like to see us push the UN to be less harsh on Israel, since Israel often seems to get condemnation for things that other states - ones that are far worse - get a pass on.
About this particular abstention, I think it is Obama's parting shot at Netanyahu for his attempts at publicly driving Obama's name through the mud at practically every opportunity. Not the least of which was Netanyahu's speech before Congress nearly two years ago, which remains the most ignominious act performed by one of our political parties, although Trump's public siding with Putin to slam Democrats is pretty darn close.
Anyhow, none of this will matter in a couple of months. Meanwhile, if Israel wants to continue expanding its settlements, it had best be drafting its defensive gameplan for when the Fourth Intifada starts.