If you want to get nit picky ?, by your own admission nit will appear to be white, SO MOST PEOPLE WOPULD SAY IT IS WHITE IF THAT IS WHAT THEY SEE, would they NOT ?
tabetha
ps it depends on the temp of the oil as to what colour it produces, films where the car has loads of white smoke coming out the rear is done by piping oil into the rear box, as it is not as hot here it is white, but if you installed a jet engine and did it it would be blue.