The crank seal that leaks is located behind the cranksaft pulley. You have to remove the passanger tire and then the access panel connected to the fender splash shield. What happens is the crankshaft pulley is also a harmonmic balancer. The balancer is balanced of which absorbs engine vibrations related to the power strokeas of the engine. The outer hub is pressed onto a rubber ring of the main part of the pulley. The outer section is what is prebalanced. The rubber either deteriorates or slips knocking out he balance of the pulley. This causes excess vibration which works against the seal.
The pulley goes over a keyed crankshaft. The pully also has a larger shoulder on the inside. The seal rides on this shoulder. When the pulley goes out of balance it causes the seal to vibrate, eventually wear out and then you have an oil leak.
The oil usually will get slung back towards the firewall, get on your alternator pulley which then gets picked up by the belt and somtimes slings onto your hood as you are showing.
If you do have this problem I suggeast you order a new pulley, seal, belt, and crankshaft bolt and washer. All these parts should be about $140 if you pay list from Ford, or go to a dscount internet site and you should be able to save yourself some money.
You will need a pulley remover ( Sears $19.99) a torque wrench a breaker bar, and metric sockets and a large socket or PVC pipe to hit the seal in place.
Once you get the pulley off and remove the seal, put some RTV on the outside of the seal whwre it contacts the timing chain cover, tap the seal in place careful not to damage it. Put some RTV in the keyway slot of the pulley, and I also put some grease on the outside shoulder to allow the seal to slide over it during the installation.
Do not hit the pulley with a a mallet to get it on. If the new crankshaft bolt due to it's tapered end of the bolt cannot catch enough threads, get yourself a bolt from Advance Auto that has no tapered end.This should provide you with enough threads to get the pully staterted. Do not tighten.
Remove the bolt and use the Ford crankshaft bolt, torque it down to 89 ft lbs back it off and retorque. Clean every thing up on the side of the engine and firewall. put the new belt on, your good to go.
Good luck.
