I was going to reply to a different thread concerning this issue, the thread was 3 years old and to avoid hijacking the thread, I started this one.
The thread was concerning emulsified oil under the oil cap due to short trips and not allowing the engine to come up to full op temp which would drive off moisture in the oil after a period of time and over time this foam having the consistency of shaving crème, will build up in the upper levels.
I read the replies concerning the post of the severe water damaged SRT I picked up this week. The oil observed when we changed it was mostly black oil until more than half was drained, then it became "a bit lighter" indicating the presence of water. Calling all of the oil emulsified might be an overstatement. Compared to "milkshake" oil I have observed dealing with my 74 Chevy Vega GT when the head gasket went, , this was minor...stop laughing. I have approx. 100 miles on this 0W-40 mobil one oil presently in it and will do a quick oil change after 1000 miles.
I polished the tailpipes of residue and am still getting wet soot deposits. I did clean the underside of the oil cap to watch for more accumulation of emulsified oil.
The response to run kerosene in the engine is most definitely out of the question. I will have this tranny serviced properly. Its the only service I'll let the stealership perform. She runs and sounds great. Peace