Does anybody remember this song?

It's a laid-back easy-grooving song from the 70's. The first verse ends with something that sounds like "I got t-rexed." I'm pretty sure what's after that really is, "All the young dudes carry the news." When I was a kid I thought he was saying something about the Space Coaster character who pronounces his name "Gary Gah-new." That's what it sounds like. I happened to hear it again recently but didn't catch the name.