i thought "embalming fluid" was just a nickname for PCP....however I know next to nothing about this drug.....so here is some info on it.

http://www.erowid.org/chemicals/pcp/pcp_info6.shtml

I just read that link and i quote

"there is evidence to support that this is primarily a case of confused slang terms. 'Embalming Fluid' is a common street slang term for PCP and has been for many years."