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A natural by-product of engine exhaust is plain old water.

So if you are seeing a leak at the 'cat', and if it is clear liquid, it should be water.

Anything that doesn't look and feel like water is a sign of a problem, i.e., anti-freeze and/or engine oil getting into the cylinders and pushed out the exhaust.

That would be time for a visit to your local mechanic.

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Q: 1997 Ford Taurus catalytic converter is leaking some type of fluid?
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