I just got a 94 p/u and had it out in the snow yesterday that was about up to my chest in some areas. I am pretty sure that I burnt up my clutch because it sure isn't going anywhere today. It starts ok and runs fine (other than it's not moving ) until I start revving my engine and then I get a thick grey/black smoke that turns even the snow on the ground dark. It also is dripping a blackish liquid from the exhaust. Can anyone help me with what this could be?

 

thats carbon from the inside of your exhaust. and the black smoke is unburnt fuel...

 

sounds like you have a rich running condition.