well, I washed it off by spraying a stream of water at the alternator, crankshaft and compressor pulleys. Did not help.

I later realised the squeaking sound is coming from my ac compressor and it goes off when I turn the ac on! I verified with a wooden rod to pick up the sound, so I am sure it is not from the alternator or crankshaft or power stteering.

Also when the ac goes on, after a couple of seconds I hear a sharp click, and then the compressor comes on and the squeaking sound goes away. I did this a few times and the pattern is consistent.

it is a one year old compressor, also odd is why the sound comes on when the compressor is off!!

any ideas ?