Twin 454's. Twin tanks, each at 140G. There's a 'fuel switch' in the lower part of the aft-cabin closet. Pointer has indexes at port, starboard and both. It's now, and always was, at 'both'. But...suppose it's moved to the port position. Will both engines drain that tank? And if it's in the starboard position, will the port engine still operate? Further...if it's in the 'both' position, and one engine is running, will both tanks drain?
Who knows, you haven't even told us what boat this is on. You could follow the hoses to wherever they go to. Or start with the make/model/and year of boat you have.
Always very entertaining to read a question where the person asking think we all have crystal balls in front of us to figure out what kind of boat they have... If there is only one such selector valve on th boat then I would assume it controls both engines. Are you sure there isn't another one hidden somewhere? That set up doesn't make much sense. Usually on small gas powered boats, each engine feeds from one tank with no valves. Could this selector valve be for the generator
It's a 1988 Carver with twin 454's. Not knowledgeable about other crafts with twin engines and twin fuel tanks I felt something like switchable fuel tank valves would be a more common item among brands. Apologies about that, but I did not assume anyone to be magical with crystal balls to figure what my craft was. It may well be for the generator. I will verify this weekend. Thanks.
Maybe a picture when you're there. You say in Post #1 "Fuel Switch". Is it a switch for sure, or a valve?
It's a small enough boat that I'd recommend following the fuel lines to the engine or generator. It might have 1 valve for each engine, in case you lose 1 engine you could run off of either tank. OR, it could be a valve for the generator allowing it to run off of either or tank.
There is a Carver sub-forum and it is pretty active, maybe ask there? If you look around in the engine room you may find the lines to the engines and determine if this has anything to do with them. Sounds like a generator fuel switch, but I've not seen one before.
As others have stated you need to follow the lines to verify what it does. That said my best guess would be fuel selection for the generator.