Whats all that grease in the front blinker socket?

[Skunksmash]

I took the back off of the front blinker socket, in an effort to track down a weak voltage problem. The blinker lights up, but its dim. The driver's side is a lot brighter.

But what's all that grease in there? Its yellow. I'm referring to the blinker socket that goes to the bulb that is in the grille, NOT the one that is in the fender.