Hood Insulation

I have a 1993 Taurus and would like to get rid of the Insulation under the hood. Will the heat from the engine discolor the paint or damage the paint on the hood Thanks for your help.

We've got into quite the discussion about this on the tcca. Some people say it will peel the paint and some say it won't. others say it is for protection if the engine catches fire.

My father took the hood blanket off of his 2001 F350. No problems with paint peeling or paint discoloring yet. And it's a black truck.