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I was pulling bolts out of the exhaust manifold (drivers side) of a 1974 monte carlo in the junkyard some months ago and one was pretty oily, there may have been more like that but I got frustrated and didn't get the manifolds. It was the driver's side. I wouldn't think that the exhaust bolts pass through an oil passage. . . .
Well if it's coming out of the exhaust port then you're obviously consuming oil...
when is the last time you changed the oil and is the carb running rich? You probably have to at least get new rings.