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What you are looking at is a broken pump handle. ..There is a pushrod that works off the cam and will PUMP your fuel pump just like you would pump water out of a well. In 71redskin's situation the pump handle broke in the middle.
easy to fix with a new fuel pump...the hard part is getting to the bolts to tighten and also the engine has to be cranked just right so the push rod that works off the cam is up in the engine so the fuel pump will install easily.
got to the bolts relatively easy with a 1/4" wratchet and a 2" extension. just a few scrapes. i was lucky in that the pump rod stayed in place when i removed the pump
