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My dad would never waste such a valuable "fluid" (by the time he changed the oil in the truck, it lacked most of its viscosity).
Knew an old timer that rode an Indian motorcycle back when Indians were new to the market. He saved all his engine oil and when he cedar shingled his new house, dipped them all in that old oil. He told me this when the house was almost 60 years old back in the 70's. Those shingles and the house still are there and look like they were put up last week.4) wood preservative, like the picnic table