EPIC THERMODYNAMIC FAIL. AND FACEPALM.
I'll bite and assume you're being serious...
Looking at watercooling got me thinking, why not use some kind of oil that isnt thick, to use instead of water for cooling ? Oil has a far greater boiling temperature and IIRC it also cools quicker, add the fact that it doesnt corrode like water, and that it doesnt condensate like water does, and surely you have a win win situation ?
Discuss
1) Low viscocity engine oil is still substantially thicker (to get to the 'low viscosity bit, it needs to be hotter) than an ideal watercooling loop would be (and much more viscious)... ever see an engine idle or worked hard and keep cool at 25oc? No? That's because they're hotter than that. As such, you would need something along the lines of low viscocity polymer/etc. for the conducting fluid (i.e. fluorinert). Submersion cooling works, but is generally not worth the bother and mess.
And this is before we get to the actual fact that this sort of thing costs A LOT of money for little (even theoretical benefit).
Even a watercooling loop which is refreshed every year, assuming it has the right amount of ehtylene-glycol/washer fluid/etc. in deionised water, won't have any visible (or at all) problems with corrosion.
2) The boiling temperature is moot, unless you are actually trying to kill your CPU/GPU/whatever... Titanium alloys melt and become dangerously reactive at around 600oC depending on alloy composition, but that doesn't stop them being used in hip replacements/etc. because the temperatures will never reach that high.
3) Water condensation is not a problem with cooling loops, as anybody with an IQ higher than a toothbrush would run the loop as a sealed environment. If you're thinking of condensation around sensitive electronic components, then this is an atmospheric phenomenon and nothing to do with the coolant. It is also only an issue if you're playing with sub-ambient temperatures, without appropriate insulation. At which point you deserve everything you get.
Now, of course, if you want to pour engine oil into your computer case from the hole in the PSU, be my guest. I will not guarantee the results - if any.
