So I got the 70 Cutlass started. Found some leaks from radiator and oil pan. Fixed the radiator leak, but still have oil leak. It's black and real wet (not like good oil) and not thick like oil. It's runny and a little gritty. I get that this oil might have been in the engine for a long time (5 years?) and could possibly be runny oil after all those years. What I can't figure out is why it smells like FUEL.

Where do I go from there? What do I need to look at first, or is this because the oil is real old?

 

For fun you should take a lighter to the dipstick to see if it will light.
You might be running rich. Or your rings might be bad. But gas in oil smell is not that bad, just a small amount of gas will give off a big smell so take that into consideration.

Check all your spark plugs to see if you can isolate a rich cylinder..

 

I had a fuel pump diaphragm go bad on me and loaded the engine with fuel.
Don't run it, drain it now and replace the fuel pump.

 

Oil usually looks black and nasty at regular interval oil change time if there are some miles on it. Could be the fuel pump diaphragm and it could be a carb that has a stuck float and flooding.

 

Let's clarify what you said, Cutlazz:

You are saying that the oil that you found leaking is thin and smells like gas, not the oil in the pan or on the dipstick, right?

The reason for this is that it's not oil. It's gas.

Find the gas leak, and you will stop the drip of gasoline that picks up oil and dirt from the outside of the engine as it runs down.

- Eric

 

and how long did it take you to get it running.if you were cranking it alot you could have washed the cyl walls and the gas would fill into the crankcase.
back in the 80's we had a little old lady with a 74 chevelle she would start it and drive it about 8 blocks to church then home days later 10 blocks to the store and back.about ever 2-3 months she would call and say her car wouldn't start.we would go get it put it up on the hoist and drain over 3 gallons of "oil" out of it.replace plugs and away she would go for 2-3 months then we would do it again.the choke never fully opened and it was just flooding the crankcase over time.the last time i had it in it had 30k miles on it.she died and a local guy bought it.it is still on the road.

 

Again check ALL rubber gas lines for cracks or loose clamps FIRST! It sounds like what MDchanic said, a leak running down and washing old oil and dirt off on its way. Be sure all the screws around your carb are good and snug and the carb base nuts and bolts are tight. The last thing you need is a fire. Also check the rubber gas line under the car at the fuel tank, it may be dry and cracked as well. Probably a good idea to change the oil too.