Here's why:
* Severity of the Leak: An hour is incredibly fast. This indicates a significant failure within the pump itself (likely a seal failure or internal damage). A small leak might be repairable, but this is not a small leak.
* Cost-Effectiveness: While repairing a power steering pump *might* be possible (depending on the specific failure), the cost of parts, labor, and the uncertainty of the repair lasting are often comparable to, or even more than, the cost of a replacement pump. Given the age of the vehicle, a rebuilt or new pump is likely a more reliable and cost-effective solution in the long run.
* Risk of Damage: Driving with low or no power steering fluid can cause serious damage to the power steering system, including the pump itself, the rack and pinion, and other components. Continuing to drive with a leak this severe risks catastrophic failure and expensive repairs.
In short, it's far wiser to replace the power steering pump rather than attempt a repair in this situation. The risk of further damage outweighs the potential savings of a repair.