Jet powered caravans, molasses
I'm too good, you're stuck on
Rent free earthquake zone, molasses
Starving waitresses in plasters
Fat houseflies, genocide
We've been stitched up, molasses

Molasses is a dark, bitter treacle substance; a by product of Cane Sugar production. I think this song is about the bitter resentment of the sweetening of all the terrible things which aren't being faced up to. "Shake hands, genocide, molasses" is about the discussions, agreements and appeasements made with people like Hitler and Milosevic. "Jet powered caravans" about the environmental state of the world, one of Thoms favourite subjects. Basically goes on to mention other things about the state of the world today and the bitterness which is being felt by all the spin and disguising of all the mess in the world.
Just my personal opinions on this great B-Side

This song came from the 1995 recording sessions with Nigel Godrich. It has never been played live.

So, nobody likes this song huh? It's understated brilliance imho!
Thematically, I think it shares a lot with another b-side, Banana Co, in that both songs seem to reference an underclass (Third World maybe?) whose land/resources have been raped and pillaged by more powerful nations or large multinational corporations, leaving the native people resentful, helpless, yet dependant.

Also meant to say that being "stitched up" implies a person has been deceived into agreeing to something that's not to their ultimate advantage.
Plus the words "genocide" and "molasses" make me think this song could be about the fate of the Native American tribes...