My brother-in-law and myself are trying to determine whats causing his '06 silverado 4.8 to blow bluish/white smoke out the tailpipe when driving. A little background... we've done a few oil changes in the last couple of weeks and after the oil change, the dipstick shows full and a few days later, the truck all of a sudden starts to blow smoke out the tail pipe while driving. Re-checking the oil level comes back with a dry dipstick. Oil pressure the whole time is being displayed via the dash as having 40 pounds of pressure. We ripped off the intake this morning to find that it was full of oil. We had a thought that it might not be correctly draining and pulled the lifter valley cover off to find no excessive oil in the top of the block. Apparently, there is no PCV valve in this motor, so replacing that is out of the question. truck has approximately 200,000 miles on it also. Anyone run into this or have any ideas on where to look next? We're concerned that the dipstick showing dry even though the dash is reporting good oil pressure may cause long term problems for the motor. More importantly, how is the oil getting into the intake with enough volume to cause this smoking?