In a rousing 30-minute speech Wednesday night, Secretary of State Hillary Clinton implored attendees at the annual gala for the American Task Force on Palestine not to give up on the struggling Middle East peace process, despite past, current, and future obstacles.

Hosted by ATFP President Ziad Asali, the event was packed with officials, experts, and influence makers involved with the region. The four honorees of the night were Retired Col. Peter Mansoor, renowned poet Naomi Shihab Nye, playwright Betty Shamieh, and Booz Allen Hamilton's Ghassan Salameh. Other notables figures in attendance included Prince Turki bin Faisal al Saud and Sharif El-Gamal, the developer of the Park 51 Muslim Community Center. Palestinian-American comedienne Maysoon Zayid was also a hit.

All attendees we spoke to praised Clinton's speech as a fair and balanced (no pun intended) assessment of developments in the Israeli-Palestinian peace process, and an impassioned plea for both sides in the conflict to redouble their efforts to reach a negotiated and permanent end to the conflict. "She could have given the same exact speech to AIPAC [the American Israel Public Affairs Committee]," said one very satisfied attendee.

Of course, Clinton didn't get into the details of the ongoing negotiations to try to convince Israeli Prime Minister Benjamin Netanyahu and Palestinian President Mahmoud Abbas to stay engaged in the direct talks they started last month. But she touched on almost every other issue related to the situation.

Here are some key excerpts:

On the current impasse in the peace talks:

We have no illusions about the difficulty of resolving the final status issues of borders and security, settlements and refugees, of Jerusalem and water. And it's no secret that we are in a difficult period. When President Abbas and Prime Minister Netanyahu came to Washington last month to re-launch direct negotiations, we knew there would be setbacks and struggles.Our position on settlements is well-known and has not changed. And our determination to encourage the parties to continue talking has not wavered.

I cannot stand here tonight and tell you there is some magic formula that I have discovered that will break through the current impasse. But I can tell you we are working every day, sometimes every hour, to create the conditions for negotiations to continue and succeed. We are urging both sides to avoid any actions that would undermine trust or prejudice the outcomes of the talks. Senator Mitchell will soon return to the region for further consultations. We have not given up and neither have President Abbas or Prime Minister Netanyahu.

On the value of the two state solution for Palestinians:

For Palestinians, a two-state solution would mean an independent, viable, and sovereign state of their and your own; the freedom to travel, to do business, and govern themselves. Palestinians would have the right to chart their own destinies at last. The indignity of occupation would end and a new era of opportunity, promise, and justice would begin... There is no substitute for face-to-face discussion and, ultimately, for an agreement that leads to a just and lasting peace. That is the only path that will lead to the fulfillment of the Palestinian national aspirations and the necessary outcome of two states for two peoples.

On what the two states should look like:

We remain convinced that if they persevere with negotiations, the parties can agree on an outcome that ends the conflict; reconciles the Palestinian goal of an independent and viable state based on the 1967 lines, with agreed swaps and Israel's goal of a Jewish state with secure and recognized borders that reflect subsequent developments and meet Israel's security requirements. This will resolve all the core issues and, as President Abbas said the other day, end all historical claims.

On seeing past the false choices of the conflict:

Being pro-Palestinian does not mean you must reject Israel's right to exist. And being pro-Israel does not mean you must deny the legitimate aspirations of the Palestinian people. The path to security and dignity for both peoples lies in negotiations that result in two states living side by side in peace and prosperity, and a comprehensive peace in the entire region.+

On the need for more money for the Palestinian Authority:

The Palestinian Authority needs a larger, steadier, and more predictable source of financial support. The United States is proud to be the Palestinian Authority's largest donor. The European Union has stepped up as well. But the broader international community, including many Arab states, can and should provide more financial support. It takes far more than commitments and plans to support making the State of Palestine a reality. And in fact, as the Palestinian economy has increased, the need for future assistance has decreased, but there is still a gap and that gap has to be filled.

On her wish to increase economic activity in Gaza:

Now, we still need many more steps from Israel to enable more economic activity in Gaza, including exports that bolster legitimate business enterprises. Our goal is to support sustainable economic growth in Gaza, and it's a little-known fact that the Palestinian Authority is the principal financial supporter of Gaza. The people in Gaza are dependent upon the Palestinian Authority, which is another reason why the increase in economic activity in the West Bank is not only good for those who live in the West Bank, but those who live in Gaza as well.

On the Obama administration's commitment to seeing it through:

This is not easy. If it were, anybody could have done it already. We've had leaders who have given their lives to this work, and now we have a moment in time that we must seize. I urge you to help lead the way. And I promise you this: The Obama administration will not turn our backs on either the people of Palestine or Israel. We will continue working for and, God willing, achieving the just, lasting, and comprehensive peace that has been a cornerstone of U.S. policy for years.