help...car revs high n somehing smells [Archive] - Toyota MR2 Message Board

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i just got back from work and when i was driving me and my friends decided to see whose car was faster of the line so i launch my car but it wouldnt go...at first i thought it was doing a burnout but then i noticed smoke coming from engine lid...so we pulled over into a theatre parking lot and open the engine lid and it smelt like something burning...it would run okay if i drive slow and normally kinda, but when i decide to gas it the it stays the same speed but starts reving higher. Is it the