Waverunner III with limited power

[jhaselwood]

I have a 1994 Yamaha Waverunner III. It will only run at 1/2 to 3/4 speed. When I turn (either left or right) the engine slows down. I can barely go fast enough to 'spin out' when I turn to the right but I can't 'spin out' when turning to the left.

Any thoughts?

Jim