The song "I Threw It All Away" is not actually by Elvis Costello, but rather by Bob Dylan. Elvis Costello covered the song as a part of a tribute album to Dylan. However, I can still provide an explanation of the meaning and story behind Dylan's original song. "I Threw It All Away" is a heartfelt ballad about regret and lost love. The narrator reflects on a past relationship where he had someone special in his life, but due to his own cruelty and foolishness, he mistreated and took their love for granted. He now realizes the worth of that love and acknowledges that he made a grave mistake by throwing it away. The lyrics express the narrator's remorse for not appreciating what he had when he had it. He describes once having everything, represented by mountains in the palm of his hand and rivers to drink from. However, he admits to being mad or blind, failing to recognize the value of his love until it was too late. The chorus emphasizes the importance and power of love in the world, and how it cannot be denied. The narrator urges listeners to understand that love is indispensable and advises them not to make the same mistake he did. He shares his personal experience, having tried to live without love and ultimately realizing its significance. The song serves as a cautionary tale about the consequences of taking love for granted and the pain that comes with losing it. It highlights the importance of cherishing and nurturing love when it is present in our lives, as throwing it away can lead to deep regret and sorrow.