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My 87 is throwing "grease" from the A/C clutch pulley up onto the inside surface of the hood and down around the monting bracket. It's a situation which is slowly getting worse.
the problem is that the front seal on the compressor has gone out, what you are seeing is A/C oil
easiest thing to do is replace the compressor
you are also slowly losing the charge on the system and it will quit all together.
i have heard that the oil also will damage the fiberglass
Are you sure it is not that you are melting your rubber damper on the A/C clutch? Do you also have a burnt smell of rubber or electrical smell?
If the compressor is leaking oil, it would not look like axle grease. It would look like it is collecting dust. If you are melting the rubber damper, then you would see it thrown around the hood.
It is your clutch. In the picture you see the part on the right. This is the magnet that pulls the clutch in and turns the compressor. As you can see it is copper color. It should be black. The stuff you are finding is the black epoxy they use to seal the magnet and is melting and flying out of the magnet. Sorry I know it is not the correct terms for the material but I hope you understand. Hope this helps. Tim