Oil from the exhaust system is called wet stacking and is usually caused by two things. Excessive idle time and over fueling. If you see wet stacking after a highway run you could have a serious internal engine problem. Hopefully some one with a little more experience with your engine can give some advice.
Joseph
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1976 Newell Classic (Sold)
Home Base: Riverside, CA
If anyone needs my contact info private message me and I will send it to you.