[Verse 1]
Flag is down
Engines roar
Bow before
The viking horde
Pleas for mercy
Fall on deaf ears
Your words don't matter
Words don't matter here
[Chorus]
I'm on fire
I run unclean
Do you desire
My Death Machine
[Verse 2]
Around the first turn
Bodies fly
Spectators plowed
The pit crew dies
Hot rod chariot
Spitting out poison fumes
[Chorus]
I'm on fire
So obscene
Death you desire
This Death Machine
Squealing tires
Backstretch queen
In my Viking
Death Machine
[Bridge]
I take the inside
Won't pass this ride
I race the sun
Across the sky
War flags flap
I'll take my victory lap
Leather and chains
The wolves will catch me one day
But not today
[Interlude]
There's a troll in a drop-head, supercharged Javelin
He don't give a damn 'bout the speed we're travelin'
He's closing the gap on my hot rod chariot
But I swear I'll take the cup in the NASCAR of the Gods!
[Solo]
Oi! Oi! Oi! Oi!
Oi! Oi! Oi! Oi!
Oi! Oi! Oi! Oi!
Oi! Oi! Oi! Oi!
I'm a viking god
Do you understand?
Let me see a show of hands!
[Chorus]
I'm on fire
I run unclean
In my Viking
Death Machine
I'm on fire
So obscene
In my Viking
Death Machine
Sulfur mustard, or mustard gas, is an agent of chemical warfare that causes large blisters on the skin and in the lungs. Its name comes from its yellow-brown color. Mustard gas was first used effectively during World War I.

Blothar calls his Viking Death Machine a “hot dog of doom” because it runs on mustard gas. The phrase “mustard gas” can be broken into “mustard”, a typical condiment on a hot dog, and “gas”, short for “gasoline”.

This set of lines is a play on the phrase “checkered past”, meaning one has a history of doing terrible things, and the checkered racing flag that signals the end of a race.

Blothar is saying that the combination of his numerous racing victories and his history of terrible actions have made him hated among the other racers, who are currently “catching up fast”.
Baldr (also spelled Balder/Baldur) is the Norse god of love, peace, forgiveness, justice, light, and purity. Loki is the Norse god of mischief and chaos.
Blothar is saying he is at peace in the chaos of the chariot race.
In multiple pieces of GWAR related media they seen to talk in-depth about Blothars genitals and sex-life.
In Norse mythology, Ragnarök is a series of future events, including a great battle, foretold to ultimately result in the death of a number of major figures (including the gods Odin, Thor, Týr, Freyr, Heimdallr, and Loki), the occurrence of various natural disasters, and the subsequent submersion of the world in water.
GWAR’s fifth album is also titled RagNaRök and is about a similar apocalyptic threat.
In most forms of racing, the green flag signifies the start of the race.

Blothar is saying that once the race begins, the fun and games are over.