the milky oil is a result of your not running the machine long enough when you do run it. run it a half hour each month, or an hour every other month even if you are just running up and down the block. your oil will -look- fine.
you should be aware there is a buildup in the oil of corrosive materials that do not get "burned" out, so changing the oil every so often (?6 months?) is still a very good idea, even if it "looks" clean.
I am told the high dollar synthetic oils resist getting milky better than the low cost generic oils, but I could not swear to that at all.
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