There is NO adjustment on the drive belt if it is slipping time to bite the bullet and buy a new one
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buy a belt, loosen the tensioner, replace belt
replace head gasket
You can get one from any ranger or explorer 94 or below, and it can come fromany 2.9,or 4.0 engine
Sounds to me like the clutch is shot, assuming it is a standard shift.
if you dont see them right on top of the engine them you dont have them......... you have what they call c o p or coil on plug. this setup only has a coil and a boot that sit right on top of the plug.