I think the clues are where North Ontario is and Neil Young's age. I think it's him referring to his experience as a boy growing up in the Cold War and the presence of the nuclear armed Strategic Air Command B52s flying out of Alaska on their Cold War sorties around the Arctic Ocean. That's why he was helpless.
As someone of a similar age, I used to have nightmares of missiles arriving and exploding on the horizon, even from the relative safety of Perth, Western Australia.