Wow, I haven't seen sludge like that since I was in High School (23+ years ago) It's something we would have found in a car donated to the auto shop....
I think they saved money buy using straight crude oil and bypassing the whole processing end of things
I don't know, Penzoil usually gets crusty and this is just gooey. Whatever it was I bet it still doesn't sell for more than .89 cents a quart.....maybe Thunderbird??? You want the topper to the whole thing??? Somewhere in it's life it received a K&N cold air kit and a Hypertech chip! Throw some hi performance goodies on it but God forbid you change the oil.