Butler Schaffer at LRC sums up his speech to a tee:
His empty efforts to channel Winston Churchill’s “we shall fight them on the beaches” talk did not impress. I almost felt a sense of embarrassment for this man who, as much as anyone else, is the embodiment of the fundamental truth that most of us are not prepared to acknowledge: as our civilization continues its collapse, there is nothing that anyone in authority can do to alter the course. I don’t know how, or if, the oil flow will be stemmed, but I doubt that any exercise of governmental force will accomplish such ends. What I fear is that the state will do what it always does when faced with an insurmountable problem, namely, deflect attention to a realm in which its capacities for violence can serve its appetites for power: perhaps another contrived war against another innocent and harmless nation.
It's always entertaining to watch government in action. So big, so powerful, and all it can do is huff and puff; it couldn't "protect us" if it tried.