Context is important. I'm fairly certain Reed is not saying, "I can't wait to stick my penis into the vagina of a 14-year-old." I've been reading him a long time, and have never gotten that impression.
I think he's saying, "Look. Here's a lesson on male nature. Straight guys, in general, will never get enough female flesh.[1] And a lot of straight guys love young girls.[2] And some guys are gonna wanna dip their wick into 14-year-old girls.[3]"
Is Reed a pedophile? I don't know the man, so I can't vouch for him. But I'm guessing not. Plus, I happen to agree with him, and I'm not a pedophile.[4] I think he's exposing an uncomfortable (i.e. politically incorrect) slice of male nature. Not all men want to have sex with 14-year-olds. I don't. But a quick Google Image search for "jailbait" implies that a lot of guys would.
It's similar to women calling old guys "dirty old men" just because they're looking at 20-year-olds in bikinis. "No lady. I'm looking because I'm a guy."
[1] true.
[2] also true.
[3] the reason 18 is the cutoff on porn sites is
not because guys don't want to look at 17-year-olds (or 16, or 15, or... you get the point).
[4] though this is the internet, so who can tell these things? We're all innocent or superheroes online.