HOUSTON -(Dow Jones)- Saudi Prince Alwaleed bin Talal said Thursday that Israel should follow U.S. President Barack Obama's recommendation of an independent Palestinian state based on the borders that existed before the 1967 Arab-Israeli war. In an interview with the Fox Business Network, Prince Alwaleed said Obama's plan, which was set out Thursday, was "straight to the point," and that for Israel "to be in peace with the Arab world, it has to abide by the roadmap Obama has established today." The Saudi royal also said that Obama's "wait-and-see" approach towards the revolts that have shaken Egypt, Libya, Syria and...