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Engine & DrivetrainEngines and Drivetrains can be a major problem for a lot of vehicles. If you are having engine or drivetrain problems, you can post your questions/concerns about the issue. Furthermore, if you are in the process of doing an engine rebuild, post your progress with pictures.
I have a 1988 LTC with a 302 that "uses" a quart of oil about every 500 miles. There is no visible leak, the coolant is clean, there is no smoke on acceleration or de-celeration from the dual exhausts (or on start-up). The PCV valve is new. The oil is clean and there is no evidence that oil is coming from the oil fill cap. The engine itself is also clean with 86k miles on it. Any suggestions? What have I missed? Thanks.
Check the air intake tubing for oil and check the breather filter. You said you don't see any visible leak so I would check the PCV line to the intake for oil. It could be using the oil in an amount that does not make it smoke. Let me know what you find.
Someone is stealing your oil! Get a locking oil filler cap, that'll stop them. How did you determine that there was no smoke on accel or decel? Did you look in the rearview mirror or have someone follow you? It has to leak it or burn it and like bk77 said it may be burning it without smoking. A person following you can see a little puff or two that you can't in the rearview. I'm curious to know how this turns out, too.
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302 in 88 Lincoln losing oil somewhere! 
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