Pump / Compressor - grinding sound / smoke?
So after the torrential rain the last couple of weeks, there's been a kind of grinding sound under the hood, like bad bearings. It's gotten worse over time, and sometimes it gets extremely loud, others almost quiet.
So the last couple of days it's started to smoke, and I still haven't noticed a difference in how the car runs. The power steering is a little finicky now especially when cold, but I think that's a coincidence as I think the pump is higher.
I have no idea what the thing is, so I've included a picture. I think it's related to the AC because it seems that the hose for it comes out of it. Can anyone identify it? It's the one way on the bottom (picture is from under the car on the passenger side.)
What is it, and what'll happen if I keep running it like that?
http://i138.photobucket.com/albums/q...7/50930839.jpg