This, of course, was from Sail Away. One of my all-time SU favorite concerts was Randy Newman at Crouse College, right around the time of Sail Away. He called this 'a song about the only body of water that is a fire hazard.'
The opener? A very young Bonnie Raitt (both were on the same label). You haven't lived until you see her do 'Blender Blues' live. One of the best double-entendre songs ever.