old - really old - cutting fluid?

I'm gradually emptying out the innards of a 1975 Kaltenbach cold saw. This is the kind of saw that has the blade inside (below) and the entire base acts as
a sump for cutting fluid. I siphoned out about 4 gallons of the old stuff today. It's not quite as thick as a good chocolate shake, but it's very thick stuff. Not thick enough to form strings when it drips, but still, thick. It looks like some kind of emulsion. My guess is it's an aqueous cutting solution which has been sitting so long in a dry climate that all the bacteria have grown, reproduced, and died, and all the water has evaporated, or nearly all. But it might be cutting fluid. At any rate, it's funky and I'm not going to reuse it.
What can one do with stuff like this? How can I determine if it's oil or not?
I also got another gallon or two of heavy steel-chip-rich sludge. I'm also curious what the environmentally responsible thing to do with this sludge is.
Anyone?
Grant
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Grant Erwin wrote:

Sounds like something you seal up in a 5 gal bucket and take to one of the don't ask, don't tell household hazardous waste days. I've disposed of some interesting material that way and they've never even asked what it was.
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Don't know where you live but I stumbled on to this site a while back and found folks both wanting it and getting rid of . Very interesting? Good luck Lyndell P.S. Look under metals and sludge! http://www.in.gov/cgi-bin/idem/imx/list_materials.cgi
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call a local company that cleans oil tanks, tell them you have an oil-water mixture and some sludge to get rid of.

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Grant Erwin wrote:

What they answered me when I asked the right people (we have spots all over the city to get rid of whatever) is to bind it with some wood swarf and dump it in the waste bin. It will be burned, so it is OK.
Nick
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That is appropriate ONLY if your waste haulers /haz mat disposal is BURNING the trash/material. In my area, stuff is both burned and landfilled, no way to tell which for any specific trash.
Nick Mueller wrote:

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RoyJ wrote:

Right. I should have written that in CAPITALS. :-))
Nick
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Nick Mueller wrote:

WHAT!!! horrors, and release all that CO2 and polutants into the air? :-) for the humor impared. :-) ...lew...
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Lew Hartswick wrote:

It is called "thermal recycling".
Nick
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Grant Erwin wrote:

You've heard "dust to dust, ashes to ashes", well this stuff came from the ground, so put it back in the ground. It'll go away.
Just trolling, Bob
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Can you get it to burn?
Wes
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Around here we take stuff like that to the haz-mat recycler at the local dump... er..ah.. "Waste Recycling Facility"... If you tkae it in a container you don't want back it dosen't even have to pour, they just take yer jug and rack it...
I've taken some *SERIOUS* shit to them (couple gallons of molar sulfuric acid comes to mind) ... and they don't even blink... just want to know the city it came from so they get their brownie points from the county and state. Local joke is that they'd be happy to take that 55 gallon drum of MEK laced with Red Phosphrous....
Don't just dump this stuff in the backyard or burn it yourself...
--.- Dave

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