Jet Skis on the Moat
I am listening to TBHC and The Car pretty much on repeat this week and after reading a few analyses of Jet Skis on here (will try to link them later, don't have them handy right now), I thought I'd add my own thoughts. I'd mostly been thinking why jet skis, why a moat, so these thoughts are heavily about that.
The TL;DR is: What if Jet Skis on the Moat describes a side relationship (with a "buddy") running parallel to any officially presented self. The theme of nighttime for the lover and daytime without them once again makes an appearance as well. Overall the song is reminiscing about the singer's life and the relationship with the lover boy is a part of that.

