Race Oil Cooler

oil cooler
This looks like a small Radiator used to cool off the engine oil or the Automatic transmission fluid. As air passes through the cooler, the temperature of the oil in the cooler is reduced. Some units reduce the temperature of the manual Gearbox and Differential lubricants in racing cars.
A heat exchanger for cooling oil. Most automatic transmissions are equipped with an oil cooler that's located inside the radiator. Since the radiator usually runs close to 200 degrees, the amount of "cooling" this kind of setup provides is questionable.

race
a contest of speed; "the race is to the swift"
Compete with another or others to see who is fastest at covering a set course or achieving an objective
Compete regularly in races as a sport or leisure activity
any competition; "the race for the presidency"
rush: move fast; "He rushed down the hall to receive his guests"; "The cars raced down the street"
Prepare and enter (an animal or vehicle) in races as a sport or leisure activity