Lyric discussion by elduuri 

Cover art for Feel It Now lyrics by Black Rebel Motorcycle Club

It struck me from the first time I heard it as a regret song. Something's over - maybe a relationship, maybe life, but it's like he's sitting there observing all the feelings you feel when something important ends, and everything is changed for the worse.

I don't think they meant it to sound like it's about any particular thing, since there are so many reasons why you could feel that way.